The "Confidence Indicator" (The Consumer Confidence Index) it is an indicator that calculates consumer confidence. In this case the expectations constitute 60% of the total value of the index. Also in this case, by calculating consumption, the index is highly regarded by traders to predict the trend of the reference currency. The index, published by the Conference Board, for the Indian modern art market remains unchanged at 71, while confidence in the Indian contemporary art market is up 12% from 39 to 44. Although still below the level 50, the indicator of expectations for the Indian contemporary art market is equal to 53, signaling a positive outlook for the market in the next 6 months.
As far as modern Indian art is concerned, 29% of the experts believe that the market will rise in the next 6 months, i.e. in spring 2013 (compared to 30% in May 2012), 60% believe that the market will remain unchanged (70% in May 2012), and 11% that the market will go down. Although 41% of experts believe that the Indian modern art market has recovered, or will recover within the next 12 months, 33% of experts believe that the market will need at least another two years before a broader recovery will take place.
For the Indian contemporary art market, 25% of experts believe that the market will rise (10% in May 2012), 52% believe that the market will remain unchanged (from 82% in May 2012) and 23% of experts they believe the market will go down (compared to 8% in May 2012). This signals that a quarter of the experts believe that the Indian contemporary art market will see a positive development in the next 6 months (Spring 2013). With the Kochi Biennale in December 2012 and the India Art Fair taking place in February 2013, there are chances, that through these international events, an effective recovery can be expected.
