With 1% of the total art market share globally, Indian art has a long way to go despite great speculation and interest in international markets, particularly since 2000. While galleries, museums, collectors and artists remain dazed and confused, the Indian government and institutions have done little to further Indian art, inevitably raising challenging questions about our participation in this constantly evolving art market.Ministry of culture and government-backed art institutions have ignored opportunities for Indian art to be showcased at art events globally. One example being the Venice Biennale 2007 where India was offered the prestigious ‘country pavilion’, an opportunity we failed to leverage. Historically, India’s been under-represented at reputed art biennales and fairs like Basel, Paris and Sao Paolo. India’s own Triennale, which is in its 12th year now, still lacks critical acclaim and international exposure.For lack of funds, Indian art doesn’t get showcased at world museum shows. Only recently, we saw Chinese Americans raising over a million dollars to participate at the world museum show while the Indian Diaspora could only manage $50,000. While Chinese art has found appeal among global collectors, Indian art is largely being bought by Indians only with the exception of about five artists who have been included in the global circuits with the efforts of private galleries.I feel private players have greatly helped Indian art getting its due recognition in the world art market by collaborating with global galleries, seeking presence for artists at museums, setting up new spaces and helping more global galleries show Indian artists. Indigenous platforms like the India Art Summit scheduled this year in August are ideal for the much required exposure and access.This summit has invited internationally-acclaimed critics and curators to address an Indian audience comprising galleries, artists, institutions, collectors and art lovers.Going forward, I believe financial investments, supporting documentation and critical analysis will be vital to succeed in global art markets. Collaborative efforts by all stakeholders are required for the development of Indian art.