• The Imperial Crown of India was made for King George V. Getty Images
    The Imperial Crown of India was made for King George V. Getty Images
  • A portrait of Queen Victoria by Franz Xaver Winterhalter showing the Koh-i-Noor on a brooch. UK Royal Collection
    A portrait of Queen Victoria by Franz Xaver Winterhalter showing the Koh-i-Noor on a brooch. UK Royal Collection
  • Queen Alexandra (1844 - 1925), consort of King Edward VII, on the day of her husband's coronation. Getty Images
    Queen Alexandra (1844 - 1925), consort of King Edward VII, on the day of her husband's coronation. Getty Images
  • King George V (1865 - 1936) on the day of his coronation, together with his consort Queen Mary (1867 - 1953). Getty Images
    King George V (1865 - 1936) on the day of his coronation, together with his consort Queen Mary (1867 - 1953). Getty Images
  • The Koh-I-Noor diamond on display at the world's fair in London. The stone was acquired by the British in 1849. Getty Images
    The Koh-I-Noor diamond on display at the world's fair in London. The stone was acquired by the British in 1849. Getty Images
  • A young Princess Elizabeth (right) with Queen Elizabeth (the Queen Mother) after the coronation of King George VI. PA Wire
    A young Princess Elizabeth (right) with Queen Elizabeth (the Queen Mother) after the coronation of King George VI. PA Wire
  • Queen Elizabeth II smiles to the crowd after her coronation in June 1953.
    Queen Elizabeth II smiles to the crowd after her coronation in June 1953.
  • The State Gun Carriage carries the coffin of Queen Elizabeth II following her State Funeral at Westminster Abbey, London.
    The State Gun Carriage carries the coffin of Queen Elizabeth II following her State Funeral at Westminster Abbey, London.

Indians demand return of Koh-i-Noor diamond after Queen Elizabeth II's funeral


Taniya Dutta
  • English
  • Arabic

Indians are calling for the return of Koh-i-Noor, the world’s most expensive diamond, after the death of Queen Elizabeth II last week.

The 105.6-carat oval-shaped Koh-i-Noor, which means “mountain of light” in Persian and is worth $591 million, is believed to have been found in the Kollur mines in the modern-day Indian state of Andhra Pradesh between the 12th and 14th centuries, during the Kakatiya dynasty rule.

It travelled through several Indian dynasties including the Turco-Afghan Khilji, the Mughals, the Persians, the Afghans and the Sikh rulers before ending up with the British colonial empire and is kept at the Tower of London.

The Koh-i-Noor, or "mountain of light", diamond, set in the Maltese Cross at the front of the crown made for Britain's Queen Mother, is seen on her coffin, as it is drawn to London's Westminster Hall on April 5, 2002. AP
The Koh-i-Noor, or "mountain of light", diamond, set in the Maltese Cross at the front of the crown made for Britain's Queen Mother, is seen on her coffin, as it is drawn to London's Westminster Hall on April 5, 2002. AP

For centuries the stone was owned by kings in the Indian subcontinent before British colonisers took it and made it a prized possession of the monarchy.

For decades, Indians, Pakistanis, Afghans and Iranians have laid claim to the precious stone, which is believed to bring bad luck to its male owners.

Britain has consistently declined the claims and asserted they were legal owners of the gemstone, a view held by India’s Supreme Court which ruled that the diamond was not looted or stolen but procured by the colonisers through a legal treaty.

But social media users in India have been demanding the return of the famed gemstone since the queen’s died on September 8, promoting petitions for the cause.

Venkatesh Shukla started a petition aiming to get 1 million signatures on LinkedIn, reminding the “honourable country” UK to return the “loot”. So far, it has just 6,500 signatures.

“Every time the crown appears with Koh-i-Noor as the jewel of the crown, it reminds the world of Britain's colonial past and the shameful way they got a five-year-old prince to “gift” it to Britain,” Mr Shukla wrote.

“The British monarchy isn’t obviously going to give it back. If we as an emerging strong country have any sort of civilizational memory and self-respect, we should officially ask them to return [it],” said Twitter user Krithika Sivaswamy.

In Puri, Odisha in India’s east, servitors of the Jagannath Temple have also launched a campaign demanding the stone, citing a letter by Sikh emperor Ranjit Singh.

He had pledged to offer it to the deity, before the British took it from his king, who was 10 years old at the time.

How the Koh-i-Noor ended up in Britain

Duleep Singh,1837-1893, the last Indian ruler to possess the Koh i Noor. Universal History Archive/Getty Images
Duleep Singh,1837-1893, the last Indian ruler to possess the Koh i Noor. Universal History Archive/Getty Images

Historically, India was the world’s only source of diamonds, with most sifted out of river sands, or alluvium.

The Koh-i-Noor is believed to have originally been a 158-carat uncut diamond when it was found in the region and embedded in the statue of the Hindu goddess Bhadrakali in a temple in Warangal.

It was later taken by Alauddin Khilji, a Turco-Afghan monarch who initially ruled the Delhi Sultanate as he expanded his kingdom into parts of the South Indian peninsula in the 14th century.

It was further passed on to the Babur, who founded the Mughal empire in the subcontinent and took over the Delhi Sultanate in the 15th century.

The precious stone remained with generations of Mughal rulers for almost two centuries, including emperor Shah Jahan, who embedded the gem in his Peacock Throne.

In the 17th century, Persian ruler Nadir Shah invaded Delhi and looted all the jewels from the Mughal treasury, including the famed Peacock Throne, and returned to Persia.

But Nadir Shah was assassinated and the diamond fell into the hands of one his generals, Ahmad Shah Abdali, who became the emir of Afghanistan.

It was his descendant, Shah Shuja Durrani, who brought the stone back to India in 1813 and gave it to Ranjit Singh, the Sikh ruler, who ruled parts of northern India, with his capital Lahore, located in present-day Pakistan.

While Mr Singh forcefully guarded his jewels during his 50-year reign, the Koh-i-Noor fell into the hands of the British East India Company in 1849, as the empire was lost to British colonisers under the rule of his king, Duleep Singh, who was 10 years old.

The young king signed a treaty with the British in 1849, giving up his sovereignty along with the entire royal treasury, including the gemstone, to Queen Victoria, who wore it as a brooch.

The diamond was later passed to Queen Alexandra and Queen Mary and later to the Queen Mother during the coronation of her husband, George VI, in 1937.

William Dalrymple, a renowned British historian based in Delhi, states in his soon-to-be-released book that the diamond was a part of a peace treaty with the British.

“Maharaja Ranjit Singh kept it with him his whole life. During the regency of his son Duleep Singh, the diamond was taken away,” Mr Dalrymple recently told the Indian Express.

“It was part of the peace treaty of the British and was handed over in the process of the defeat of the Sikhs as one of the spoils going to the victor.”

Demanding the diamond's return

Queen Elizabeth, the Queen Mother wearing her crown containing the Koh-i-Noor for the coronation of her husband King George VI of England. CORBIS/Corbis via Getty Images)
Queen Elizabeth, the Queen Mother wearing her crown containing the Koh-i-Noor for the coronation of her husband King George VI of England. CORBIS/Corbis via Getty Images)

India first demanded the return of the stone in 1947, the year it gained independence from the British after a two centuries-long freedom movement. It made a further request in 1953.

Another request was reportedly made in 1997 when the queen visited India to mark the 50th anniversary of independence from Britain.

Several Indian parliamentarians again launched a bid for the return of the diamond in 2000 and India’s archaeological authority also made efforts in 2010, but Britain denied all the requests, saying the stone had been part of its heritage for more than 150 years.

Former British prime minister David Cameron, during his visit to India in 2013, said returning the stone was not “sensible”.

“I certainly don't believe in 'returnism', as it were,” he said.

In 2016, the Indian government told the country’s top court the diamond had been “gifted” to the East India Company by the rulers of Punjab in 1849.

The government also reiterated its resolve to try to bring back the Koh-i-Noor diamond amicably.

The Pakistan government has also staked a claim to the diamond for several decades. Most recently in 2019, it said colonisers stole the gem from its territory, meaning it was the rightful owner.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

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“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Updated: June 23, 2023, 4:09 PM