India (Commonwealth Union)_ A landmark moment in Indian art unfolded this week as an iconic painting by Raja Ravi Varma set a new auction record. Accordingly, his renowned work, the Yashoda and Krishna painting, was sold for ₹167.20 crore at Saffronart’s Spring Live Auction in Mumbai. The buyer, businessman Dr. Cyrus S. Poonawalla, now owns the most expensive piece of modern Indian art ever sold at auction. The bidding for the picture was intense, indicating a high level of interest from collectors. The final price far exceeded expectations and comfortably surpassed the previous record of over ₹118 crore, set last year by M.F. Husain’s Untitled (Gram Yatra). Art experts say this sale signals growing confidence and maturity in India’s art market.
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Created in the 1890s, during the peak of Ravi Varma’s career, the Yashoda and Krishna painting had been valued between ₹80 crore and ₹120 crore before the auction. Its final price highlights both its artistic importance and lasting appeal. After the acquisition, Dr. Poonawalla described it as a privilege. He emphasized the painting’s cultural value and expressed a wish to have it available for public viewing whenever possible. The artwork depicts a sweet and personal moment between Yashoda and the young Krishna. In the scene, Yashoda is milking a cow as Krishna, standing behind her, reaches out for a cup of milk.
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The painting is highly regarded for its emotional depth, excellent workmanship, and realistic depiction of maternal tenderness. It is one of Ravi Varma’s most acclaimed works. Furthermore, Minal Vazirani, co-founder and president of Saffronart, called the sale a historic milestone. She noted that it reflects not only a major achievement for the art market but also the enduring emotional and cultural connection people have with Indian art. Raja Ravi Varma, who lived from 1848 to 1906, is regarded as one of India’s most influential artists. Though often addressed as “Raja,” the title was honorary, reflecting his aristocratic roots in Kerala’s Travancore region.
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Ravi Varma is popular for combining European painting methods with Indian subjects, particularly in his portrayals of Hindu mythology. His paintings influenced how generations of Indians saw gods and epic stories. Beyond original paintings, Ravi Varma pioneered the use of lithographic printing to make art more affordable to the general audience. His legacy continues to have an impact on calendar art, posters, and religious iconography today. This record-breaking sale not only honors a masterpiece but also represents a proud moment for India’s burgeoning art market.
