The wider picture
Raja Ravi Varma, born in 1848 in Kilimanoor, Kerala, is widely regarded as the ‘Father of Modern Indian Art’. His works have long been celebrated for their ability to blend Indian themes with European techniques, creating a unique style that resonates deeply within the cultural fabric of India. On April 1, 2026, a significant milestone was achieved in the art world when Varma’s painting Yashoda and Krishna was sold for an astounding ₹167.2 crore at Saffronart’s Spring Live Auction in Mumbai, setting a new record for Indian art.
The painting, created in the 1890s at the height of Varma’s career, depicts a tender moment between the infant Krishna and his mother, Yashoda, capturing the essence of maternal love. This sale not only exceeded its pre-auction estimate of ₹80–120 crore but also surpassed the previous record held by M.F. Husain’s Untitled (Gram Yatra), which sold for over ₹118 crore.
Cyrus S Poonawalla, the buyer of the painting, expressed his sentiments regarding the acquisition, stating, “I am privileged to have the opportunity to acquire, preserve, and care for the iconic Raja Ravi Varma painting Yashoda and Krishna.” He further emphasized the importance of making this national treasure available for public viewing, indicating a commitment to sharing the artwork with a broader audience.
Minal Vazirani, a prominent figure in the art auction world, remarked on the significance of the sale, saying, “Great art has a way of reaffirming its timeless value… It is not just a milestone for the market, but a powerful reminder of the enduring cultural and emotional resonance of Indian art.” This statement underscores the painting’s impact beyond mere monetary value, highlighting its cultural significance.
The painting, originally listed under the title Milching a Cow in a 1911 publication, has evolved in its recognition and appreciation over the years. Its sale for ₹167.2 crore reflects not only the growing market for Indian art but also the increasing recognition of Raja Ravi Varma’s contributions to the art world.
Observers of the art market anticipate that this record-breaking sale will inspire further interest in Indian art, potentially leading to more significant investments in works by both historical and contemporary Indian artists. The auction results serve as a testament to the lasting legacy of Raja Ravi Varma and the cultural heritage he represents.
As the art community reflects on this remarkable event, it is clear that Raja Ravi Varma’s work continues to resonate with audiences today, bridging the past and present through its emotional depth and artistic brilliance. The future of Indian art looks promising, with collectors and institutions alike eager to explore and celebrate its rich history.
