The Piprahwa Gems - described by archaeologists as one of the most astonishing finds of the modern era - were due to be auctioned in Hong Kong in May. But the sale was called off following diplomatic intervention and threats of legal action from Delhi.

The Mumbai-based conglomerate Godrej Industries Group has acquired the jewels, Sotheby's said. Sotheby's said it was "delighted" to facilitate the return, following two months of negotiations involving the owner, the new buyer and the Indian government. The relics will now go on permanent public display in India, the auction house said.

Indian Prime Minister Narendra Modi announced the return on Wednesday, calling it a "proud and joyous moment" and a victory for the country's cultural heritage. The relics, he said on X, were coming home after 127 years. Godrej Industries Group, the buyer of the jewels, serves over 1.1 billion consumers worldwide across sectors including consumer goods, real estate, agriculture, finance, and chemicals, according to its website. Many of its products are household names in India.

"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," Pirojsha Godrej, Executive Vice Chairperson of Godrej Industries Group, was quoted as saying in a government press statement. Unearthed in 1898 by English estate manager William Claxton Peppé from a stupa in Piprahwa in northern India, near the Buddha's birthplace, the cache included nearly 1,800 pearls, rubies, sapphires and gold sheets - buried alongside bone fragments identified by an inscribed urn as belonging to the Buddha himself.

Peppé eventually handed most of the gems, relics and reliquaries to the colonial Indian government: the bone relics went to the Buddhist King of Siam (Rama V). Five relic urns, a stone chest and most other relics were sent to the Indian Museum in Kolkata - then the Imperial Museum of Calcutta. (BBC/ Sotheby's)