A historic auction held in Mumbai has created a new milestone in the world of Indian art. A painting by renowned Indian artist Raja Ravi Varma has set a global record. The oil painting titled “Yashoda and Krishna” was purchased by Cyrus Poonawalla, Chairman of the Serum Institute of India, for $17.9 million (approximately ₹150.36 crore). This is now the highest price ever paid for any modern Indian artwork.
This masterpiece, created in the 1890s, is considered one of Raja Ravi Varma’s finest works. During the auction, the painting far exceeded its estimated value, which was between ₹72 crore and ₹108 crore.
After acquiring the artwork, Cyrus Poonawalla described it as a “national treasure” in an interview with The Times of India. He expressed his desire that such a priceless piece should not remain confined to a private collection but should be displayed publicly from time to time so that people can appreciate it.
Art experts have praised this decision, noting that it will help preserve India’s cultural heritage and make it accessible to a wider audience.