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The Padmanabhaswamy temple treasure is a collection of valuable objects including gold thrones, crowns, coins, statues and ornaments, diamonds and other precious stones. It was discovered in some of the subterranean vaults of the Padmanabhaswamy Temple in Thiruvananthapuram, in the Indian state of Kerala, when five of its six (or possibly eight) vaults were opened on 27 June 2011.
These early findings also occur in places like the Deccan and the earliest evidence for smelted iron occurs in Central India, not in north-western India. [21] Moreover, the dates for iron in India are not later than in those of Central Asia, and according to some scholars (e.g. Koshelenko 1986) the dates for smelted iron may actually be earlier ...
Rather, it was an idealised place, perhaps equivalent to Atlantis in Western history, a distant somewhere to the east of India where traders, sailors, and Buddhist and Hindu teachers went to make their fortunes and spread their teachings and bring back gold and other exotic products desired by a rising elite and the wealthy classes at home.” [8]
A journalist from Al Jazeera summed up the spectacle saying that, "We had heard that India is the land of snake charmers. After this we are ready to believe it." [32] The weekly magazine India Today called the excavation "moronic madness" and added, "if this gold hunt ends in finding even a kilo of the yellow, we are doomed. An already overtly ...
The Gold (Control) Act, 1968 is a repealed Act of the Parliament of India which was enacted to control sale and holding of gold in personal possession. High demand for gold in India with negligible indigenous production results in gold imports, leading to drastic devaluation of the Indian rupee and depletion of foreign exchange reserves to alarming levels.
Significant findings at Arikamedu include numerous Indo-Pacific beads, which facilitated fixing the period of its origin. Red and black ceramics—known as megalithic stones or Pandukal in Tamil meaning "old stones" and used to mark graves—have existed at the site even prior to dates of the trading post, and also in later periods.
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Gold smuggling was rampant in India until liberalisation, which repealed The Gold (Control) Act, 1968 that prohibited the import of gold except for jewellery. [4] In the 2011–12 period India's current account deficit burgeoned to 4.2% of its GDP. [5] This was due to high prices of oil and gold, which the country imports in huge volumes. [6]
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