Malabar Gold and Diamonds announced on Wednesday (March 25) that it will be privatised $200 crore for Corporate Social Responsibility (CSR) programs in FY 2026-27. Malabar, one of the world’s largest jewelery retail groups, made the announcement at the Dr. Ambedkar International Center in New Delhi, in the presence of Union Commerce and Industry Minister Piyush Goyal.
The event was also attended by Malabar Group Chairman MP Ahmed, Managing Director India Operations O Asher, CEOs Nishad AK and Abdullah Ibrahim, Resident Commissioner Kerala House Puneet Kumar, IAS, CEO Pratham Rukmini Banerjee, Chairman Thanal Idris, among others.
During the program, the Minister launched the distribution of educational scholarships to 33,000 female students throughout the country. The company plans to implement CSR initiatives in more than 3,000 locations across 19 states, covering 15 major projects and aiming to benefit more than 2 lakh people.
Speaking at the event, Goyal said India’s progress depends on empowering its people, especially women and girls. He praised the company’s efforts to promote change through education, and said that such initiatives set an example for other organizations.
Addressing the students at the event, the minister urged them to aim high, transcend limitations and make the most of the opportunities available in India. He also said that the choice of location was appropriate, as BR Ambedkar believed that “societies flourish only when women flourish in the country.”
Referring to the global challenges linked to the West Asia crisis, Goyal said the country had come together to “unite as one entity.” He added that in recent years, India has signed 9 free trade agreements with 38 developed countries.
Speaking on the occasion, Malabar Group Chairman Ahmed said: “Nurturing talent through quality education is essential and the scholarship program enables students to achieve academic success and contribute to the development of the country.”
About corporate social responsibility projects
A large portion of the funds will be allocated to education $Rs 114 crore has been allocated for initiatives such as micro-education centers for street children and scholarship schemes for girls.
The company has been set aside $Rs 30 crore for food distribution under the Zero Hunger World Project $Rs 14.2 lakh crore for healthcare programmes.
It will receive housing initiatives, including the “Grandmother’s House” project for needy mothers $25 Crores. In addition, $Rs 6.8 lakh crore will be used for other humanitarian efforts $10 crore to protect the environment, according to the jewelery group.
These activities are implemented through the Malabar Charitable Fund, which allocates 5% of the company’s net profits to its CSR work.
It is worth noting that the group established 1,543 micro-learning centers in 17 states in partnership with the Pratham Educational Foundation. It plans to expand this to 2,500 centers this year, with the aim of increasing student enrollment from 64,000 to 100,000.
Under the Zero Hunger World project, the group says it is providing daily meals to 1,15,000 people in India, Zambia and Ethiopia. Other initiatives include Malabar Thanal Pharmacies, which provide medicines at subsidized prices to the needy.
