HYDERABAD: In the present age, trade in Hyderabad has changed from its rich diamond market to technology-driven business. For more than 100 years, trade of diamonds flourished in Golconda under Qutb Shahi rulers.
City-based historians say that most of the famed diamonds in the world are Golconda diamonds and even to day, they are worth three to five times the estimated price.
It is 425 years of Hyderabad. More than 410 years ago, apart from pearls, spices, textiles, trade of diamonds attracted people from different regions.
Historians say diamonds were found in Wajrakarur in the present Anantapur, Kollur of present Guntur, and other places around the Krishna river. Some of the famed Golconda diamonds are Koh-i-Noor, Darya-i-Noor, Hope, Sancy, Shah, Orloff and others.
Historian Mohammed Safiullah says such was the trade that the estimated output from all mines in Golconda was estimated to be around 12 million carats. “Qutb Shahis made fabulous wealth out of diamond trade. It started from the Bahmani rule and extended into the Qutb Shahi’s,” Safiullah says.
Convenor of the Hyderabad chapter of INTACH, P Anuradha Reddy, says the trade of diamonds was rich in Golconda since the rulers were progressive in its support. “Qutb Shahis came from Hamedan of Iran. They were of Iranian-Turkish origin and were progressive in trade,” says Reddy. Provisions were made for traders to stay in Golconda. Not only diamonds, people came to Golconda to deal with pearls, spices, textiles and other commodities.
Safiullah says experienced traders can identify a Golconda diamond just by the look of it. “The four Cs of diamonds—clarity, cut, colour and carat—are different in Golconda diamonds,” he explains. “If a Golconda diamond is auctioned today, the final price will be three to five times the estimated price.”