
Buddhist gems return to India after 127 years
Indian Prime Minister Narendra Modi on Wednesday hailed the return of the collection, known as the Piprahwa Gems of the Historical Buddha Mauryan Empire, Ashokan Era, circa 240-200 BCE.
"A joyous day for our cultural heritage!" Modi wrote in a post on X. "It would make every Indian proud."
The collection was originally scheduled to be auctioned by Sotheby's in Hong Kong in May but the sale was postponed after India's government threatened legal action and demanded the jewels be returned.
Sotheby's subsequently identified a buyer and secured a sale that saw the permanent return of the gems to India, where they would be placed on public display.
"Sotheby's is delighted to have facilitated the return of the Piprahwa Gems to India," the auction house said in a statement late on Wednesday.
"This completes our active search over the past two months to identify the best possible custodian for the gems," it added, without disclosing the name of the buyer.
The gems were unearthed in 1898 from an ancient stupa in Piprahwa, northern India, by English estate manager William Claxton Peppe. Peppe was later allowed to keep more than 300 duplicate gems, which remained in his family.
Hashtags

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


Reuters
10 minutes ago
- Reuters
Oil steadies as concerns about tariff impacts vie with Russian supply threats
Aug 1 (Reuters) - Oil prices were little changed on Friday after falling more than 1% in the previous session as traders digested the impact of new higher U.S. tariffs that may curtail economic activity and lower global fuel demand growth. Brent crude futures rose 4 cents, or 0.06%, to $71.74 a barrel by 1201 GMT. U.S. West Texas Intermediate crude rose 1 cent, or 0.01%, to $69.27. Still, Brent prices are set to gain 4.9% for the week while WTI is set to climb 6.4% after U.S. President Donald Trump earlier this week threatened to place tariffs on buyers of Russian crude, particularly China and India, to coax Russia into halting its war against Ukraine. On Friday though, investors were more focused on Trump's imposition of new, and mostly higher, tariff rates on U.S. trading partners set to go into effect on August 1. Trump signed an executive order on Thursday imposing tariffs ranging from 10% to 41% on U.S. imports from dozens of countries and foreign locations including Canada, India and Taiwan that failed to reach trade deals by his deadline of August 1. Some analysts have warned the levies will limit economic growth by raising prices, which would weigh on oil consumption. On Thursday, there were signs that existing tariffs are already pressuring prices higher in the U.S., the world's biggest economy and oil consumer. U.S. inflation increased in June as tariffs boosted prices for imported goods such as household furniture and recreation products. This is supporting views that price pressures would pick up in the second half of the year and delay the Federal Reserve from cutting interest rates until at least October. Maintaining interest rates would also impact oil as the higher borrowing costs can limit economic growth. At the same time, Trump's threats to impose 100% secondary tariffs on Russian crude buyers have supported prices because of concerns that would disrupt oil trade flows and remove some oil from the market. JP Morgan analysts said in a note on Thursday Trump's warnings to China and India of penalties on their ongoing purchases of Russian oil potentially puts 2.75 million barrels per day of Russian seaborne oil exports at risk. The two countries are the world's second- and third-largest crude consumers, respectively. "The Trump administration, like its predecessors, will likely find sanctioning the world's second-largest oil exporter unfeasible without spiking oil prices," the analysts said, referring to Russia.


Reuters
40 minutes ago
- Reuters
VIEW Investors react to Trump's new reciprocal tariffs announcement
SINGAPORE, Aug 1 (Reuters) - President Donald Trump signed an executive order on Thursday imposing reciprocal tariffs ranging from 10% to 41% on U.S. imports from dozens of countries and foreign locations. Rates were set at 25% for India's U.S.-bound exports, 20% for Taiwan's and 30% for South Africa's. Trump also signed an executive order on Thursday increasing tariffs on Canadian goods to 35% from 25%, the White House said. QUOTES: TONY SYCAMORE, MARKET ANALYST, IG, SYDNEY: "At this point, the reaction in markets has been modest, and I think part of the reason for that is the recent trade deals with the EU, Japan, and South Korea have certainly helped to cushion the impact, as has Mexico being granted a 90-day reprieve. And Trump said that trade talks with China are doing reasonably well there. "So on top of all of that, you have the TACO trade type situation whereby, after being obviously caught on the wrong foot in April, the market now, I think, has probably taken the view that these trade tariff levels can be renegotiated, can be walked lower over the course of time." BRIAN JACOBSEN, CHIEF ECONOMIST, ANNEX WEALTH MANAGEMENT, MENOMONEE FALLS, WISCONSIN (emailed comment): "Just because we now have clarity on the tariffs, that doesn't mean we have certainty about their effects. "There are those who think that tariff-induced consumer price inflation will slowly build as businesses work down inventories and test how strong their pricing power is. Others think the tariff-induced inflation will peak earlier, showing up mostly in crimped profit margins and resulting in slower growth. "However, what tariffs take with one hand, maybe tax incentives to invest and more open foreign markets can give with the other hand."


Reuters
40 minutes ago
- Reuters
US official says differences with India cannot be resolved overnight for deal
WASHINGTON, July 31 (Reuters) - Differences between the U.S. and India cannot be resolved overnight to arrive at a trade deal, a senior U.S. official told reporters late on Thursday, citing geopolitical disagreements. President Donald Trump said on Wednesday Washington was still negotiating with India on trade after announcing earlier that day the U.S. would impose a 25% tariff on goods imported from the country starting on Friday. The 25% figure would single out India more severely than other major trading partners, and threaten to unravel months of talks between the two countries, undermining a strategic partner of Washington's and a counterbalance to China. "Our challenges with India, they've always been a pretty closed market... there are a host of other kind of geopolitical issues," the U.S. official said. "You've seen the president express concern about, you know, membership in BRICS, purchases of Russian oil and that kind of thing." While saying there were constructive discussions with India, the official added: "These are complex relationships and complex issues, and so I don't think things can be resolved overnight with India." India has faced pressure from the West, including the U.S., to distance itself from Moscow after Russia invaded Ukraine in early 2022. New Delhi resisted that pressure, citing its longstanding ties with Russia and its economic needs, opens new tab. Trump has cast the BRICS group of developing nations - of which India is a key part - as hostile to the U.S. Those nations have dismissed that accusation and the group says it promotes the interests of its members and of developing countries at large. Trump has also drawn India's frustration by repeatedly taking credit for an India-Pakistan ceasefire that he announced on social media on May 10. The ceasefire halted days of hostilities between the nuclear armed Asian neighbors. India's position has been that New Delhi and Islamabad must resolve their issues directly without outside involvement. Trump has reached a trade deal with India's rival Pakistan.