Malabar Group announces $1.9 million in scholarships for more than 21,000 female students in India

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The Malabar Group, a diversified Indian business conglomerate and the parent company of Malabar Gold & Diamonds, announced its “National Scholarship Programme” for 2024 at an event at Bharat Diamond Bourse, BKC, Mumbai in India recently. Malabar Gold & Diamonds is the 6^th largest jewellery retailer globally. This year, the scholarship program has allocated more than $1.9 million  support the education of over 21,000 female students across India.

This announcement underscores Group’s commitment to supporting female education and women’s empowerment, a press release from the Group said. The event was inaugurated by Piyush Goyal, Honourable Minister of Commerce & Industry, Government of India. MP Ahammed, (Chairman – Malabar Group), Abdul Salam K P (Vice-Chairman – Malabar Group), Asher O (MD – India operations – Malabar Gold & Diamonds), Nishad AK (Executive Director-Malabar Group) and Shaunak Parikh (Director, Mahendra Brothers) were present at the event.

Speaking about the initiative, Chairman, Malabar Group MP Ahammed, said, “Education is the most powerful tool to change the world. Our scholarship programme is a direct reflection of 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.”

In 1999, the Malabar Charitable Trust (MCT) was created to structure and expand charitable initiatives for which it allocates 5% of its profits in every country of operation, which spans Health, Housing, Hunger Free World, Education, Women’s Empowerment and the Environment, with a particular focus on empowering marginalized communities.

The Malabar National Scholarship Programme, launched in 2007, has to date, invested more than $7 Million, providing financial aid to more than 95,000 female students across India.

In addition to the scholarship program, the Malabar Group’s Hunger-Free World Project provides nutritious meals to the underprivileged across the country. Supported by a strong network of volunteers and partnerships with local NGOs, the initiative is committed to eradicating hunger and ensuring food security for all. Currently, 50,000 food packets are distributed daily in 80 cities across 16 states in India. Additionally, 10,000 meals are provided every day to school students in Zambia, Africa. Malabar Group aims to scale the project to serve 100,000 people daily at 200 centers, the press release said.

The Malabar Group has also launched the Grandma Home project, which provides free, fully equipped accommodation for destitute women, offering them protection and care. Currently, homes are operational in Bengaluru and Hyderabad, with plans to expand to major cities in Kerala, as well as Chennai, Kolkata, Delhi, and Mumbai.

To date, the Malabar Group has invested over $31 Million in various social responsibility projects.