Currently valued at over Rs 1 lakh crore in open auction, the jewellery was purchased by the Centre from the Nizam’s Jewellery Trusts for Rs 217 crore.
Hyderabad: Thirty years after its acquisition, the Nizam’s priceless 173-piece jewellery collection remains in the custody of the Union government. The Nizam’s descendants have renewed their appeal to display the treasures in Hyderabad, arguing that the collection could attract global tourists and boost Telangana’s cultural profile.
Currently valued at over Rs 1 lakh crore in open auction, the jewellery was purchased by the Centre from the Nizam’s Jewellery Trusts for Rs 217 crore. The process of acquiring the Nizam’s jewellery began in the 1970s and was completed in 1995. The collection was first displayed in 2001 at the National Museum, New Delhi, in 2006 at the Salar Jung Museum, Hyderabad and again in the National Museum in 2019.
With growing public demand for the collection’s permanent display in Hyderabad, Himayat Ali Mirza, the great-grandson of the seventh Nizam, Osman Ali Khan, urged the government to either bring the jewels back to the city or consider auctioning them for public welfare.
“While there is constant clamour for bringing back the Kohinoor diamond, we Indians often overlook the invaluable treasures already in our custody,” Himayat Ali said. “It has been 30 years since we handed these over to the Union government. Keeping them locked in vaults serves no purpose for a country struggling with poverty. If the government truly wants to alleviate poverty, it can consider an open auction. The proceeds — which may exceed Rs 1 lakh crore — could feed the poor, build housing and support healthcare for millions,” he told Deccan Chronicle.
Among the pieces, the famed Jacob Diamond — once used as a paperweight by the last Nizam and often associated with misfortune — alone could fetch over Rs 1,000 crore internationally, he noted.
Himayat Ali, who has earlier written to Prime Minister Narendra Modi and Union minister G. Kishan Reddy seeking transfer of the collection to Hyderabad, urged Chief Minister A. Revanth Reddy to utilise the Nizam’s landed assets under state custody to establish a dedicated museum with high security.
“If the Chief Minister, who is keen on developing the ‘Fourth City,’ also focuses on tourism by creating an AeroCity-like hub in Hyderabad, he could lobby for bringing back the jewellery,” he said, expressing optimism. The demand for a permanent exhibition in Hyderabad continues, with heritage experts arguing that such a move could significantly enhance the city’s tourism appeal.
