Malabar Group pledges Rs. 16 crore for the education of 21,000 girls in new CSR initiative

Shri Piyush Goyal, Honourable Minister of Commerce & Industry, applauds the Group’s 5 per cent profit allocation to CSR, urging sustained support for girls’ education and skill development across the jewellery industry

Mumbai: The Malabar Charitable Trust’s national CSR initiative, ‘Empowering Education, Empowering Womanhood’, took place at the Convention Hall, Bharat Diamond Bourse, on 27th September, marking a significant step towards supporting girls’ education. At the event, the Malabar Group announced its National Scholarship Programme for 2024, committing Rs. 16 crore to fund the education of over 21,000 girl students across India.

The event was inaugurated by Shri Piyush Goyal, Honourable Minister of Commerce & Industry, who commended the women of India for their strength and achievements across sectors. He praised the Malabar Group for its exceptional CSR efforts, stating: “I am delighted that, while companies are required to contribute at least 2 per cent of their average net profit from the past three years to CSR projects, the Malabar Group has generously committed to contributing 5 per cent of their profits to society.”

He went on to offer thoughtful suggestions and urged the Group to provide long-term support to the girls benefiting from their scholarship programme. “I request the Malabar Group to support these girls not just for a year or two, but throughout their education, and equip them with the skills needed for a secure future,” he said. He advocated for integrating vocational training alongside traditional education to ensure that, upon reaching adulthood, the girls are equipped with practical skills that guarantee employment. He suggested the Group could offer opportunities within its own business sectors, such as retail, accounting, jewellery hallmarking, or design, to help these young women transition smoothly into the workforce.

The event was also attended by the Malabar Group’s top leadership, including MP Ahammed (Chairman), Asher O (MD of India operations), Abdul Salam K P (Vice-Chairman), Nishad AK (Executive Director), and Shaunak Parikh (Director, Mahendra Brothers).

MP Ahammed emphasised the company’s dedication to empowering young girls through education. He highlighted that the Malabar National Scholarship Programme is a key reflection of the Group’s strong belief in the transformative power of education. “Education is the most powerful tool to change the world. Our scholarship programme directly reflects the Malabar Group’s deep-rooted belief that education unlocks opportunities and transforms lives. We are committed to removing barriers for young girls so they can fulfil their educational aspirations and contribute meaningfully to society,” he said.

Since its founding, the Malabar Group has shown a deep commitment to inclusive growth through its extensive social welfare initiatives. To further expand these efforts, the Malabar Charitable Trust (MCT) was established in 1999 as the CSR wing of the Malabar Group of Companies. The Group now devotes 5 per cent of its profits to CSR activities, with a strong focus on education, healthcare, environmental sustainability, and poverty alleviation, especially for marginalised communities. To date, the Malabar Group has invested over Rs. 263 crore in various social responsibility projects, reflecting its commitment to sustainable development.

The Malabar National Scholarship Programme, launched in 2007, stands as a flagship initiative under its CSR framework. So far, it has invested over Rs. 60 crore, providing financial support to more than 95,000 girls across India. By centring its efforts on girls’ education, the Malabar Group aims not only to uplift individuals but also to drive the socio-economic development of entire communities for future generations.

Beyond the scholarship programme, the Malabar Group has initiated several other impactful projects, such as the Hunger-Free World Project, which delivers nutritious meals to the underprivileged, and the Grandma Home Project, which provides free, fully equipped housing for destitute women. These CSR activities are channelled through Malabar Gold & Diamonds (MGD) showrooms across the country, with operational support from grassroots organisations working in local communities.

Concluding the event, Shri Piyush Goyal called upon the entire jewellery industry to embrace similar CSR initiatives, envisioning a future where each company in the sector would adopt as many girl children as they have employees. This collective effort, he suggested, could transform countless lives and contribute significantly to the nation’s socio-economic growth. “Imagine if the entire jewellery industry came together to adopt as many girl children as they have employees, empowering them with skills and independence. The impact on their lives and the future of India would be truly transformative through the industry’s leadership,” he said, encouraging the sector to step forward as agents of change.

As the Malabar Group continues to expand both its business and social responsibilities, its dedication to empowering communities through education and comprehensive support remains at the heart of its mission, setting a benchmark for corporate social responsibility in the jewellery industry.

Written by Pratyasha Kumari

Retail Jeweller India Exclusive