
Piprahwa gems: Sacred Buddha relics, originally set for auction in Hong Kong in May, returns to India
"This momentous repatriation has been made possible through an exemplary public-private partnership between the government of India and the Godrej Industries Group," the Ministry of Culture said.
'The sacred Piprahwa relics, carried in a box, were received by Union Culture Minister Gajendra Singh Shekhawat at a technical area of the Delhi airport,' a senior official said.
"This successful repatriation sets a benchmark in cultural diplomacy and collaboration, showcasing how strategic partnerships between public institutions and private enterprise can protect and preserve global heritage," the Ministry said.
'The sacred Piprahwa relics will be formally unveiled during a special ceremony and placed on public display, allowing citizens and visitors to pay homage and witness these rare artefacts,' it said in a statement.
The Piprahwa relics, discovered in 1898 by British civil engineer William Claxton Peppé in Piprahwa (in today's Uttar Pradesh), are believed to be associated with the mortal remains of Lord Buddha. Enshrined by his followers around the third century BC, these relics have long held immense spiritual value for the global Buddhist community and represent one of the most important archaeological discoveries in Indian history.
'Originally slated for auction in Hong Kong on May 7, the sacred artefacts were 'successfully secured' by the Ministry of Culture through 'decisive intervention', reflecting the government's unwavering commitment to preserving India's cultural and spiritual heritage,' the statement further said.
"The return of the Piprahwa gems is a matter of great pride for every Indian. This is one of the most significant instances of repatriation of our lost heritage and would not have been possible without the vision and initiative of our Prime Minister Narendra Modi," Mr. Shekhawat was quoted as saying in the statement.
On May 5, the Ministry had said that it had issued a "legal notice to Sotheby's Hong Kong", seeking "immediate cessation of the auction" of a portion of the sacred Piprahwa Buddhist relics and demanded their repatriation.
On May 7, it said, "The Ministry of Culture, Government of India, has successfully secured the postponement of the auction of the sacred Piprahwa Buddhist relics by Sotheby's Hong Kong, which was scheduled for May 7, 2025."
The Ministry of Culture on Wednesday said, the "Government of India, proudly announces the historic return of the sacred Piprahwa relics of Lord Buddha to their rightful home in India." Pirojsha Godrej, Executive vice-chairperson of Godrej Industries Group, said, "We are deeply honoured to contribute to this historic moment. The Piprahwa gems are not just artefacts — they are timeless symbols of peace, compassion, and the shared heritage of humanity." "Our partnership with the government of India reflects our deep commitment to preserving cultural legacies for future generations," he added.
'This initiative aligns with Prime Minister Narendra Modi's broader mission to reclaim and celebrate India's ancient cultural and spiritual heritage from across the world,' the Ministry said.
"The return of the Piprahwa gems further reinforces India's standing as a global guardian of peace, compassion, and the timeless values of the Buddha," it added.
'The Piprahwa Relics, which include bone fragments, soapstone and crystal caskets, a sandstone coffer and offerings, such as gold ornaments and gemstones, were excavated by Peppe in 1898,' the Ministry had said in a statement on May 7.
'An inscription in the Brahmi script on one of the caskets confirms these as relics of the Buddha deposited by the Sakya clan,' it had said.
'The majority of these relics were transferred to the Indian Museum in Kolkata in 1899 and classified as 'AA' antiquities under the Indian law, prohibiting their removal or sale,' it had added.
"While a portion of the bone relics was gifted to the King of Siam, a selection retained by Peppe's descendants has now been listed for auction," the statement had said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
11 minutes ago
- Economic Times
Waterfield Advisors announces appointment of two key senior professionals to their leadership team
Waterfield Advisors, a globally recognised multi-family office and wealth advisory firm, has announced the appointment of Riddhiman Jain as Managing Director and Head of Investment Strategy & Solutions and Abhishek Damani as Managing Director, Alternative Investments. ADVERTISEMENT Riddhiman brings over 15 years of global experience in wealth management, having held senior investment leadership roles across Singapore, Hong Kong, and India. Most recently, he served as Executive Director and Head of Investments and Products for UBS Wealth Management India, where he led discretionary and advisory mandates, mutual funds, alternative investments, and listed securities across asset classes. Also Read | Nifty slips into consolidation: What is the right strategy for mutual fund investors now? A strategic thinker and advocate for AI-driven client servicing and technology, Riddhiman has been instrumental in launching and managing differentiated offerings in alternatives, hedge funds, and digital wealth tools. His experience spans developing and delivering investment propositions and leading cross-border teams to deliver scalable, client-centric solutions. On the human front, he believes in breaking silos to foster collaboration and innovation, according to a press release.'I'm excited to join Waterfield's exceptional team to scale our Advisory impact. Combining market knowledge and technology to deliver exceptional client outcomes, I look forward to breaking silos, building innovative client propositions, providing quality advice, maximizing client returns, and making a meaningful difference,' said Riddhiman on his Waterfield, Abhishek will be driving the expansion of the firm's private market capabilities through the development of new investment avenues including GP and LP-led solutions, and portfolio construction related to separately managed accounts, tailored to the evolving needs of domestic and global investors. Abhishek will also continue to play a key role in advancing Waterfield's private market Fund of Funds offering, with oversight across portfolio construction, due diligence, and stakeholder engagement with both GPs and investors. ADVERTISEMENT Abhishek brings over a decade of experience in private markets, most recently serving as Managing Director and Head of India & Southeast Asia at Quilvest Capital Partners, where he led private equity and venture capital fund investments, co-investments, and secondaries in the region. Based in both Hong Kong and Mumbai during his time at Quilvest, Abhishek was instrumental in driving investment strategy, business development, and global partnerships at his former firm. 'Waterfield Advisors has set the benchmark for excellence in the Indian wealth management industry through its unwavering client alignment, institutional-grade governance, and a deeply embedded culture of integrity. Increasing maturity within private markets in India are beginning to offer differentiated, long-term opportunities that can meaningfully enhance portfolio returns,' On his joining, Abhishek commented. ADVERTISEMENT 'Waterfield is uniquely positioned given its access to top-quartile PE/VC managers as well as high-quality deal flow, making it an ideal platform for client's to build their private markets portfolios. I am excited to join Waterfield to expand our private market capabilities by crafting bespoke solutions tailored to the sophisticated and evolving needs of both Indian and global investors. The opportunity to contribute to Waterfield's vision in this dynamic segment is incredibly energizing, and I'm excited for what lies ahead,' he further said. Also Read | Axis Mutual Fund message to investors after Viresh Joshi's arrest ADVERTISEMENT 'With Riddhiman joining, we wish to further elevate the quality of advice we offer to our discerning clients, who are amongst the country's wealthiest families and individuals. As we scale to new heights, we want a leader who understands our evolving needs and aligns with our client centric ethos,' said Soumya Rajan, Founder and CEO, Waterfield will form an important part of Waterfield Advisors' Senior Leadership Team. He will be instrumental in advising UHNIs and HNIs on portfolio construction across multi-asset classes and solving market the joining of Abhishek Damani, CEO said, 'We are excited to bring on board Abhishek to join our family at such a dynamic time in the firm's growth. Our clients are increasingly looking for sophisticated, non-traditional strategies to enhance their portfolio returns and manage risk and Abhishek's addition will help us deliver on this demand with high-quality private markets solutions." ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
&w=3840&q=100)

First Post
12 minutes ago
- First Post
India needs strategic patience to sail through Trump's tariff storm
On July 30, 2025, US President Donald Trump unveiled a sweeping 25 per cent tariff on Indian exports, effective August 7, alongside threats of penalties for India's continued purchase of Russian oil and military hardware. Justified by Trump as retaliation for India's 'far too high' tariffs and 'strenuous and obnoxious non-monetary trade barriers', this move severely disrupts an expanding trade partnership. More troubling is the proposed 100 per cent secondary tariff on nations dealing in Russian oil—especially damaging for India, which sources around 35 per cent of its crude from Russia. These measures risk entangling trade, energy security, and defence in a complex geopolitical crossfire. STORY CONTINUES BELOW THIS AD India–US Trade Snapshot India is the US' ninth-largest trading partner, and the US is India's largest export destination. In 2024, bilateral trade (per Indian sources) stood at $136.7 billion—with India exporting $91.2 billion and importing $45.5 billion, yielding a $45.7 billion surplus for India. U.S. data shows bilateral goods trade at $129.2 billion, with exports to India at $41.8 billion and imports from India at $87.4 billion. This trade imbalance remains a sore point for Washington. While Trump has dubbed India the 'tariff king', the actual weighted average tariff on US imports is under 5 per cent, well within WTO limits. However, India does levy higher duties on specific items like whisky, wines, and automobiles—similar to protectionist policies adopted by many other nations, including the US. India's major exports to the US in 2024 included electrical and electronic equipment ($14.4 billion), pharmaceuticals ($12.73 billion), and precious metals and stones ($11.88 billion). Conversely, US exports to India comprised mineral fuels ($12.6 billion), precious stones ($5.31 billion), and machinery ($3.29 billion), along with soybeans ($2.2 billion). Tariff Dynamics Before the Trump Shock Before Trump's announcement, US tariffs on Indian goods averaged 2.5 per cent, while Indian duties ranged from 10 per cent to 80 per cent depending on the sector—with high rates on agricultural products like apples and rice. Non-tariff barriers, especially in agriculture and pharmaceuticals, have long frustrated US businesses. Trump has used tariffs as a pressure tool to counter the trade deficit under the guise of protecting US industries. STORY CONTINUES BELOW THIS AD From India's perspective, the US administration has ignored the significant American advantage in India's services and education sectors. Furthermore, India's obligations to safeguard farmers' livelihoods, sensitivities regarding dairy products, ensure energy security, and maintain affordability restrict its capacity to yield to US expectations. Fallout The new 25 per cent tariff raises average duties on Indian goods to 27 per cent, affecting key sectors such as auto parts, electronics, steel, and aluminium. Even iPhones assembled in India may see price hikes. Projections suggest a 10 per cent to 50 per cent drop in Indian exports in these sectors—amounting to annual losses of up to $3 billion. India, with 1.4 billion people and the world's fourth-largest economy, aims to double trade with the US to $500 billion by 2030. However, Trump's tariffs threaten this goal, potentially trimming 0.3–0.5 per cent off India's projected 6.5 per cent GDP growth for 2025 (as per HSBC). For US consumers, these tariffs will likely spark inflation, especially in healthcare affordability. Tariff revenues—estimated to constitute 5 per cent of federal income in 2025—are intended to offset Trump's tax cuts and support domestic manufacturing. Yet economists, including JP Morgan, predict a US GDP slowdown to 1.6 per cent and supply chain disruptions, given India's crucial role in supplying generics, pharmaceuticals, and electronics. STORY CONTINUES BELOW THIS AD Strategically, these tariffs risk alienating a key Indo-Pacific partner, undermining US efforts to counter China. The punitive measures could push India closer to the Russia-China-India (RIC) alignment. India imported $40 billion of Russian oil in 2024 (forming 35 per cent of India's energy imports). A 100 per cent secondary tariff on this trade would spike India's import bill, increase inflation, strain fuel subsidies, and derail fiscal targets—especially problematic in an election year. In defence, India's 36 per cent dependency on Russian arms (down from 55 per cent in 2019) makes it vulnerable to US sanctions, particularly regarding high-value systems like the S-400. While compliance compromises strategic autonomy, non-compliance risks further penalties. Given the perceived unreliability of US foreign policy, India may be inclined to take calculated risks. A Web of Sticking Points Agriculture is India's red line. The US demands greater access to India's protected agricultural market, particularly in dairy and grains. But with 45 per cent of the population reliant on farming, India faces high political costs in liberalising this sector. STORY CONTINUES BELOW THIS AD India is unlikely to emulate US allies like Japan or the EU in offering zero-tariff concessions, owing to security dependencies. Indian exports of auto parts, steel, aluminium, and electronics face the steepest tariffs. Less-affected sectors like textiles and gems may still lose market share to Vietnam and Bangladesh. In retaliation, India could target US exports such as soybeans and aircraft—although this could impact its aviation sector if the UK cannot meet shortfalls. Domestic Compulsions India's trade policy is constrained by domestic politics. Any concessions on agriculture risk electoral backlash. Micro, Small, and Medium Enterprises (MSMEs), which drive Indian exports, would be severely impacted by higher US tariffs. Energy security remains paramount, and Russian oil provides affordable options not easily replaceable. Strategic autonomy underpins India's foreign policy. Aligning too closely with either Washington or Moscow would compromise this balance. Given Trump's recent policy unpredictability, abandoning a reliable partner like Russia seems unjustified. Balancing Act Trump's tariff blitz leaves India with limited but critical choices. These include: STORY CONTINUES BELOW THIS AD Negotiate a Selective Trade Deal: India may pursue a limited deal, lowering tariffs on non-sensitive imports like machinery, liquor, hydrocarbons, motorbikes, and soybeans—while resisting US demands on agriculture and dairy. It must stand firm on energy affordability for its vast poor population. From August 1, 2025, India should absorb the tariffs temporarily without rushing into a disadvantageous deal. It should protect MSMEs, prioritise growth, and wait out the 10-day deadline on secondary tariffs, monitoring US–China negotiations. This appears to be the most prudent approach. Diversify Markets: India should expand exports to Asean, the EU, and Africa. Deepening ties with Brics nations can also cushion the impact. Though these markets lack the scale of the US, diversification reduces dependency and future coercion risks. Aggressive pursuit of FTAs and strategic partnerships is essential. Strategic Reduction in Russian Trade: India can gradually diversify oil imports to the Middle East or the US and broaden arms sourcing to France, Israel, and others. However, higher costs and strong Russia ties complicate this transition. India can redirect exports to Asean, the EU, and Africa, though with smaller profit margins. STORY CONTINUES BELOW THIS AD Self-Reliance: Strengthening the Atmanirbhar Bharat campaign for defence and tech manufacturing is vital. Past disruptions, like Covid, have shown India's capacity to localise supply chains—a trend that must accelerate. Controlled Retaliation: If unavoidable, India must retaliate proportionately with tariffs on high-profile US goods like aircraft, oil, whisky, and motorcycles. Such a move risks escalation but may be necessary to defend sovereignty and prevent future coercion. Brics Brics nations face similar US tariffs—34 per cent on China, 50 per cent on Brazil. The concept of a coordinated Brics response is attractive but lacks momentum. India-China rivalry and Russia's economic constraints limit cohesion. While alternate payment systems (eg, rupee-ruble trade) are being explored, intra-Brics trade ($700 billion) pales in comparison to their $5 trillion trade with the US. However, if Trump follows through with 100% tariffs on BRICS and 500% on countries trading with Russia, he may inadvertently force BRICS closer. This could catalyze a realignment toward the RIC format. STORY CONTINUES BELOW THIS AD Realistic Road Ahead India's optimal response blends diplomacy, economic recalibration, and strategic signalling. A selective trade deal protecting sensitive sectors while retaining competitiveness is key. Simultaneously, India must diversify exports, reduce reliance on Russian oil and arms incrementally, and boost domestic manufacturing. Subsidies for impacted exporters and tax relief for MSMEs can cushion the blow. By reinforcing its role as a democratic counterweight to China, India can retain geopolitical leverage while defending long-term interests. Trump's tariff offensive poses serious challenges—but India possesses considerable leverage. Through smart negotiation, diversification, and strategic patience, India can weather the storm and emerge stronger, with a more resilient and self-reliant economic framework. Diplomacy, reform, and national resolve will be India's guiding tools in navigating this turbulent phase. The author is a strategic and security analyst. He can be reached at Facebook and LinkedIn as Shashi Asthana, @asthana_shashi on Twitter, and personal site. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.


The Hindu
12 minutes ago
- The Hindu
Member of Parliament meets Steel Minister Kumaraswamy on reinstatement of contract workers at Vizag Steel Plant
Visakhapatnam Member of Parliament Matukumilli Sribharat met Union Minister of Steel and Industries H.D. Kumaraswamy in New Delhi on Monday urging him reinstate the contract workers in Visakhapatnam Steel Plant (RINL). During the meeting, he pointed out that the contract workers who contributed significantly to the plant's development and possess strong service records need to be reinstated. He emphasized the importance of regularizing these employees to ensure the plant's smooth functioning. Further, the MP proposed that the Kendriya Vidyalaya presently operating within the plant premises be transferred under the Ministry of Education. This, he explained, would provide students with more stable and quality educational facilities. Mr. Sribharat also recommended implementing a voluntary retirement scheme (VRS) for the staff of Vimal Vidyalayam, functioning within the plant area, to provide them with financial security. Highlighting concerns of the workforce, Mr. Sribharat stressed the urgent need for full-time employee recruitment at the steel plant. He pointed out that proper staffing would facilitate effective promotions, enhance production capacity, and ensure steady availability of raw materials. These strategic improvements would greatly benefit the plant's overall performance, he said. Minister H.D. Kumaraswamy acknowledged the proposals favorably and assured that the Ministry would undertake necessary measures. He said that the Ministry is committed to addressing these concerns promptly and constructively.