Piyush Goyal unveils Malabar Gold & Diamonds’ $24M CSR initiative for FY 2026–27

Malabar Gold & Diamonds, the world’s fifth-largest retail jewellery group and a responsible jewellery brand, has today announced their CSR initiatives worth $24 million for the financial year 2026-27 held at Dr Ambedkar International Centre in New Delhi in the presence of Shri Piyush Goyal, India Union Minister for Commerce and Industry.

At the CSR initiative, the Union Minister inaugurated the distribution of educational scholarships for 33,000 female students across India. The event was attended by Malabar Group Chairman M.P. Ahammad, Malabar Gold & Diamonds Managing Director - India Operations O. Asher, Malabar Group Executive Directors Nishad A.K. and Abdulla Ibrahim, Kerala House Resident Commissioner Puneet Kumar, IAS, Pratham CEO Rukmini Banerji, and Thanal Chairman Dr Idris, among others.

Union Minister Piyush Goyal stated that the initiatives of the Malabar Charitable Trust align closely with Prime Minister Narendra Modi’s vision of empowering India’s daughters through programs like Beti Bachao, Beti Padhao.

He added that “Malabar Gold & Diamonds’ decision to allocate $24 million towards CSR will further strengthen the nation’s progress,” emphasising that India’s growth is rooted in the empowerment of its people - especially women and girls and appreciating the company’s efforts in driving meaningful change through education.”

“He also encouraged students and young citizens to dream big, aspire beyond limitations, and seize the vast opportunities India offers, urging them to contribute actively to the nation’s growth story”

Malabar Group, Chairman, M.P. Ahammad highlighted “Human resource development is the backbone of national growth. He noted that nurturing talent through quality education is essential, and that the scholarship programme enables students to achieve academic success and contribute to the country’s development. He added that the group remains committed to creating sustainable, long-term societal impact through significant CSR investments.”

During 2026-27, CSR projects worth $24 million will be implemented across more than 3,000 locations in 19 states in India, covering 15 major initiatives. These programmes are expected to benefit over 200,000 people.

A significant focus is on education with $14 million allocated to initiatives such as micro-learning centres for street children and national scholarship programmes for girls, $3.6 million has been earmarked for food distribution under the Hunger Free World project, and $1.7 million for healthcare initiatives. Housing projects, including the ‘Grandma Home’ initiative for destitute mothers, will receive $3 million. Additionally, $0.82 million will be allocated for other humanitarian activities and $1.2 million for environmental protection.

As part of the Malabar Group’s 33rd anniversary, scholarships will be awarded this year to 33,000 girl students from 284 districts across 18 states in India. Since its inception, the programme has benefited over 115,000 girls. All CSR initiatives are implemented through the Malabar Charitable Trust.

For the rehabilitation of street children, Malabar Gold & Diamonds has established 1,543 micro-learning centres across 17 states in partnership with Pratham Education Foundation, one of India’s largest NGOs. The number of centres will be increased to 2,500 this year, with student enrolment expected to grow from over 64,000 to 100,000.

Under the Hunger Free World project, nutritious meals are provided daily to 115,000 people across India, Zambia, and Ethiopia. Other CSR initiatives include the ‘Grandma Home’ project, which provides free accommodation and care for destitute women, and Malabar-Thanal pharmacies that offer medicines at subsidized rates to the underprivileged.

Malabar Gold & Diamonds’ operations are guided by ESG principles. Since its inception, the company has allocated 5 per cent of its net trading profit towards CSR activities. These initiatives focus on women empowerment, healthcare, education, housing, hunger eradication and environmental protection, in collaboration with NGOs such as Pratham and Thanal.

These efforts have already brought positive change to the lives of over 1.8 million people across India.