(MENAFN- Dubai PR Network) Malabar Group, a leading diversified Indian business conglomerate and the parent company of Malabar Gold & Diamonds – the 6th largest jewellery retailer globally, announced its National Scholarship Programme for 2024 at an event at Bharat Diamond Bourse, BKC, Mumbai in India. This announcement marks a significant milestone in the Group's flagship CSR initiative, the Malabar National Scholarship Programme, which underscores its commitment to supporting female education. The event was inaugurated by Mr. 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. This year, the scholarship programme has allocated more than 1.9 million USD to support the education of over 21,000 female students across India.
Speaking about the initiative, MP Ahammed, Chairman, Malabar Group , 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.”
Since its inception, Malabar Group has demonstrated a strong commitment to inclusive growth through its social welfare activities. In 1999, the Malabar Charitable Trust (MCT) was created to structure and expand these efforts. The group allocates 5% of its profits to CSR initiatives in every country of operation, which spans Health, Housing, Hunger Free World, Education, Women empowerment and Environment, with a particular focus on empowering marginalized communities.
The Malabar National Scholarship Programme , launched in 2007, stands as a flagship initiative under its CSR framework. To date, over 7 Million USD has been invested in the programme, providing financial aid to more than 95,000 female students across India. By focusing on girls' education, Malabar Group aims to uplift not just individuals but entire communities, ensuring future generations are equipped with the tools for social and economic progress.
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 centres.
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.
The Group's CSR initiatives aimed at uplifting marginalized communities include medical aid for the underprivileged, support for housing construction, and financial assistance for the marriages of women in need. To date, the Malabar Group has invested over 31 Million USD in various social responsibility projects, reflecting its commitment to sustainable development.
Malabar Group's continued focus on impactful initiatives such as education and hunger relief exemplifies the company's belief that sustainable growth is only possible when communities are empowered and supported in every way possible. This dedication will remain at the heart of all future endeavours as the Group continues to expand both its business and social responsibilities.
MENAFN01102024003092003082ID1108732880
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.