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In a historic moment for the Indian art market, Yashoda and Krishna has been sold for a record-breaking ₹167.2 crore, making it the most expensive Indian painting ever auctioned. At the centre of this landmark deal is Cyrus Poonawalla, one of India’s most influential business figures and a name synonymous with global healthcare.
Who Is Cyrus Poonawalla?
Cyrus Poonawalla is the founder of the Serum Institute of India, the world’s largest vaccine manufacturer by volume. Known for revolutionising affordable vaccines globally, Poonawalla has played a key role in public health, especially during the COVID-19 pandemic.
Apart from his business empire, Poonawalla is also a prominent art collector and philanthropist. His latest acquisition places him firmly in the spotlight of the global fine art space, reinforcing his reputation as a serious patron of Indian heritage and culture.
Why This Purchase Is Making Headlines
The ₹167 crore sale of Yashoda and Krishna has shattered previous auction records, surpassing works by iconic artists like M. F. Husain. The painting was initially expected to fetch between ₹80–120 crore, but intense bidding drove the price significantly higher.
This record-breaking Indian art auction highlights the growing global demand for rare Indian artworks, vintage paintings, and museum-quality masterpieces. It also signals a strong investment trend in high-value Indian art, attracting collectors, investors, and institutions worldwide.
About ‘Yashoda and Krishna’ By Raja Ravi Varma
Created in the late 19th century by Raja Ravi Varma, Yashoda and Krishna is considered one of the most emotionally powerful works in Indian art history. The painting beautifully captures a maternal moment between Yashoda and young Krishna, blending mythology with realism.
STORY | Raja Ravi Varma’s ‘Yashoda and Krishna’ sells at record-breaking Rs 167.20 crore
Eminent Indian painter Raja Ravi Varma’s oil painting “Yashoda and Krishna” was sold at a record Rs 167.20 crore (USD 17,978,495) at Saffronart’s Spring Live Auction in Mumbai on Wednesday,… pic.twitter.com/829FEUtMfA
— Press Trust of India (@PTI_News) April 2, 2026
Varma’s unique ability to combine European oil painting techniques with Indian themes made his works timeless. This particular piece stands out for its storytelling, composition, and cultural depth, making it highly desirable among collectors.
What This Means For The Indian Art Market
The record ₹167 crore sale marks a turning point for the Indian art industry. It underlines rising global recognition of Indian artists, increasing value of classical Indian paintings, strong investor confidence in art as an asset class and growing interest in heritage art among ultra-high-net-worth individuals
With Cyrus Poonawalla leading this historic purchase, the spotlight is now on India’s rich artistic legacy and its expanding global footprint.
A Defining Moment
As one of the biggest Indian art auction sales ever, this deal is more than just a headline. It represents the intersection of wealth, culture, and legacy, where iconic art meets influential collectors. And at the heart of it is Cyrus Poonawalla, the man who just rewrote Indian art history with a single bid.
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