New Delhi, Sep 19 (IANS): India's leading art platform India Art Fair has become the first regional partner of MCH group -- parent of the international fair Art Basel, held in Basel, Miami Beach and Hong Kong.

MCH Group, with its head office in Basel (Switzerland), is a group of live-marketing companies with a comprehensive services network spanning the entire exhibition and event market.

The group will work in partnership with the existing team at the fair and the value of its engagement will fully come into effect from 2018, according to Marco Fazzone, Managing Director of Design and Regional Art Fairs, MCH Group. 

"We are happy to launch our strategic initiative with India Art Fair, as our first regional partnership. It gives us a co-ownership position in the leading art platform for modern and contemporary Indian and international art in South Asia," said Fazzone.

"We are looking forward to contributing to the further development of India Art Fair as a leading face-to-face and digital platform," he added.

With the co-ownership in India Art Fair, the group is expected to enter a new geographic and market segment, pursuing its strategic aim to expand its range of services and to make its product portfolio more international. 

"The dynamic growth of the South Asian art market at a global level, supported by a buoyant Indian economy, has seen the strength and significance of India Art Fair grow rapidly over the past few years," said Neha Kirpal, Founding Director of India Art Fair. 

"We are delighted to have MCH Group as an experienced international partner joining us in India. Their commitment to this region will help us develop the fair in the coming years," she added.