The diamonds, emeralds, and gold and silver coins and figurines were found in underground chambers at the 16th century Sree Padmanabhaswamy temple in Kerala state. The treasure was found in six vaults and is believed to have been stored below the temple for more than a century, put there over a period of time by the Maharajahs of Travancore.

Inspectors are cataloguing the items, which have not been officially value but are believed to be worth about 500 billion rupees, or more than $ 11,2 billions.

Local media said that the search team's finds included a solid gold statue studded with emeralds, three diamond-studded crowns and 1,000 gold necklaces, one of which was said to be over 5m long and 2.5kg in weight.

“Most of the articles found in the temple are offerings made by devotees and wealth the erstwhile rulers of the Travancore princely state had stored in the temple," the temple official said on conditions of anonymity..

Hundreds of armed police were deployed around the temple and metal detectors were set up at the entrance after the first reports of the treasure came out yesterday.

Several temples in India have billions of dollars worth of wealth as rich devotees and royalty donate gold and other precious objects, and run schools, colleges and hospitals.

"I have instructed the police chief to reinforce security further following the findings and it would be there permanently," the state's chief minister, said.