Malabar Gold & Diamonds, one of the world's largest jewellery groups, has been honoured with the prestigious India Gold Conference (IGC) Responsible Jewellery House Award for 2023-24. This award, a highly esteemed recognition in the Indian jewellery sector, celebrates Malabar Gold & Diamonds' unwavering commitment to ethical sourcing and sustainability.

The award acknowledges the company's dedication to procuring responsibly mined gold and diamonds from legitimate sources, ensuring that every piece of jewellery is crafted to the highest standards of purity and integrity. O. Asher, Managing Director of India Operations for Malabar Gold & Diamonds, accepted the award from Dr. Sundaravalli Narayanswamy, Chairperson of the India Gold Policy Centre, during a ceremony at the Hilton Manyata Business Park in Bangalore. The event was attended by notable figures, including Sitaraman Varadarajan, Head of Business Development at Malabar Gold LLC; Dileep Narayanan, Head of Bullion at Malabar Gold & Diamonds; Sunil Kashyap, Director of Finmet PTE Ltd; Praveen Baijnath, CEO of Rand Refinery; and Filsor Babu, Karnataka Regional Head of Malabar Gold & Diamonds.

Malabar Group Chairman M.P. Ahammed expressed his gratitude for the recognition, reaffirming the company's commitment to ethical practices. “We are deeply honoured to receive the Responsible Jewellery House Award from IGC,” said Ahammed. “Gold and diamonds are often exchanged during life’s most joyful moments, such as weddings and birthdays. We are committed to ensuring that these precious materials are ethically sourced from legitimate origins, free from exploitation. Only then can these gifts truly embody the sanctity, purity, and brilliance they symbolize.”

O. Asher further highlighted the company’s adherence to legal and tax regulations across all countries in which it operates. “We ensure that the gold bars we buy and sell are responsibly sourced and fully legal,” Asher stated. “We use London Bullion Market Association (LBMA) quality-certified London Good Delivery Bars (LGDB), Dubai Good Delivery Bars (DGDB), and HUID-hallmarked Indian Good Delivery Bars. Malabar Gold & Diamonds has already established itself as a trusted jewellery brand worldwide.”

Malabar Gold & Diamonds currently operates 355 stores across 13 countries, employing around 21,000 people from 26 different nationalities. With over 15 million satisfied customers from more than 100 countries, the company offers world-class facilities in all its stores. Through its 'One India One Gold Rate' initiative, Malabar Gold & Diamonds ensures uniform gold pricing across India.

The Malabar Group is also notable for its significant contributions to corporate social responsibility (CSR). Since its inception, the Group has allocated 5% of its profits to various CSR initiatives, including the 'Hunger-Free World' initiative, the 'Grandma Home' project, medical aid for the underprivileged, and educational scholarships for girls. To date, the company has invested over INR 250 crore in these impactful initiatives.

Founded in 1993, Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate with an annual turnover of USD 6.2 billion. The company ranks as the 6th largest jewellery retailer globally and the 19th ranked brand in Deloitte's Luxury Goods World Ranking.