"We are creating a new platform for all artists living across India in villages, towns and cities. Many smaller artists remain relatively unknown and unrecognised because of a dearth of platform," CIMA director Rakhi Sarkar told reporters here.
The first edition of the award would be held in March next year and the application process has already started.
The award will be given to artists whose practice is in the conventional fields of the visual arts like painting, sculpture and photography, as well as to artists practising with new media - video, installation and performance.
Sarkar said for the advisory body they have finalised names like Jogen Choudhury, Suman Mukherjee, Sreoshi Chatterjee, Swapan Chakraborty and Mainak Bhowmick.
The award is open to all Indian professional artists between 25 and 45.
Those from a formal art education background as well as artists from a traditional art practice and self-taught artists are invited to apply.
The winner of the CIMA Award would win Rs 5 lakh and also merit a solo show at the art gallery.
Besides there would be two jury awards.
