Mumbai has a good selection of contemporary commercial art galleries. Despite the arrival of Sotheby's in Mumbai and the subsequent increases in prices, works by quality local artists are a steal. You need to do some homework before making a significant purchase. The best way to do this is by looking at modern Indian art books, visiting galleries, and talking to as many local artists and gallery owners as possible.
Gallery Chemould is a small distinguished gallery, whose contemporary artwork matches in quality that exhibited in the high profile Jehangir Art Gallery downstairs.
Sakshi Art Gallery is an interesting exhibition space in a converted textile mill. It hosts noteworthy shows and its director, Geetha Mehra, knows a thing or two about local artists.
Cymroza Art Gallery is such a popular exhibition space that it's rumoured to be booked out years in advance.
Jamaat is a new gallery strategically located just behind the Taj Mahal Hotel.