YES TO ART AND CULTURE
JOHNY ML
The incredible success of the partnership of Yes Bank and India Art Fair’s last year’s edition, has enticed and tingled the curiosity of the otherwise lethargic art market. This year, with new gusto and promise, the two pair up again to further renew their vows of deliverance and opening of new avenues in the art market confirms Dr. Rana Kapoor, CEO of Yes Bank to Johny ML, Editor Art & Deal, in this interview.
JohnyML: The arrival of Yes Bank as the partner of India Art Fair in 2013 was a pleasant surprise. It instilled a lot of confidence to the players in Indian contemporary art market. And now you are partnering with IAF again. How pleasant was the first experience? Did you achieve your target? Rana Kapoor: Yes Bank is pleased to present the 6th Edition of India Art Fair, in order to build further momentum after the tremendous success of the Fair’s past five editions. Our first year of partnership in 2013 was a fantastic experience. Art in all its various forms, has historically been synonymous with India. India is yet again reinventing a differentiated identity for itself in appreciation and creation of contemporary art with possession of Art transcending across all sections of the society. Through the globally recognized India Art Fair, it is Yes Bank’s endeavor to champion this Art revolution in India. In due course, Yes Bank aims to significantly build upon Art Banking as part of its Media, Fine Arts & Luxury Banking Platform and specialized offerings. JML: You came into the picture when the art market morale was literally sagging and the art buyers and collectors were deserting the scene. How successful were you/are you in bringing them back? RK: Yes Bank‘s focus in the growing Fine Arts and Luxury market is in consonance with the rapidly growing appreciation of goods, services and the value chain of this segment in our country. At Yes Bank, we know there is a shared appreciation of quality, and the India Art Fair presents some of the best quality art in the world.
It is with this due diligence and with Yes Bank’s assistance and relationships, that the India Art Fair 2013 attracted marquee corporate involvement, from varied industries panning manufacturing, energy, infrastructure
among others to partner and support the mega art extravaganza. The right synergies and a strong market potential saw the confluence of business and art (collectors and artists) in the last edition. We hope that our collaboration with India Art Fair will provide an opportunity to welcome more relevant stakeholders in the following years. JML: You speak of great growth potential in the ndian ontemporary art market. Please elaborate on it. How is your presence going to boost up this growth potential? I ask this against the backdrop of the speculations that we had witnessed regarding the growth of the Indian art market during the boom years between 2005 and 2008?
