Malabar Gold & Diamonds allocates Rs 200 crore for national CSR initiatives
New Delhi [India], March 25 (ANI): Malabar Gold & Diamonds announced a commitment of Rs 200 crore toward its Corporate Social Responsibility (CSR) initiatives for the financial year 2026-27. The retail jewellery group revealed the plan at the Dr. Ambedkar International Centre in New Delhi on Wednesday in the presence of Union Minister for Commerce and Industry, Piyush Goyal.
During the event, the Union Minister inaugurated the distribution of educational scholarships intended for 33,000 girl students across India.
As per a press release, these projects will be implemented across more than 3,000 locations in 19 states. The group intends to cover 15 major initiatives that are expected to benefit over two lakh people.
Union Minister Goyal stated that "Malabar Gold & Diamonds' decision to allocate INR 200 crore towards CSR will further strengthen the nation's progress." He emphasized that the growth of India is rooted in the empowerment of its people, specifically women and girls, and recognized the company's efforts to bring change through education.
The financial allocation for the upcoming year prioritizes education, with Rs 114 crore dedicated to initiatives such as micro-learning centres for street children and national scholarship programmes. As part of the group's 33rd anniversary, scholarships will reach students in 284 districts across 18 states.
Malabar Group Chairman M.P. Ahammad highlighted that "human resource development is the backbone of national growth." He noted that nurturing talent through quality education is essential and explained that the scholarship programme enables students to achieve academic success and contribute to the development of the country.
Beyond education, the group earmarked Rs 30 crore for food distribution through the Hunger Free World project and Rs 14.2 crore for healthcare initiatives.
Housing projects, including the Grandma Home initiative for destitute mothers, received an allocation of Rs 25 crore.
Additionally, the plan included Rs 10 crore for environmental protection and Rs 6.8 crore for other humanitarian activities.
These efforts are managed through the Malabar Charitable Trust, which has historically allocated five per cent of the company's net trading profit to CSR activities.
The rehabilitation of street children remains a focal point, with the group establishing 1,543 micro-learning centres in 17 states in partnership with the Pratham Education Foundation. The group plans to increase the number of these centres to 2,500 this year, aiming to grow student enrolment from 64,000 to one lakh.
Under the Hunger Free World project, the group provides nutritious meals daily to 1,15,000 people across India, Zambia, and Ethiopia. Other ongoing efforts include Malabar-Thanal pharmacies, which offer subsidized medicines to the underprivileged.
The event saw attendance from Malabar Group Managing Director of India Operations Asher Ottamoochikkal, Executive Directors Nishad A.K. and Abdulla Ibrahim, and Kerala House Resident Commissioner Puneet Kumar.
Pratham CEO Rukmini Banerji and Thanal Chairman Idris also participated in the proceedings. The group maintains that its operations follow ESG principles, focusing on women empowerment, healthcare, and education to create a sustainable societal impact. (ANI)
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