JUNE 23: The President of India, Smt Droupadi Murmu, addressed the National Students’ Convocation of the Institute of Cost Accountants of India (ICMAI) in the capital today. She commended the profession of accounting for its deep-rooted connection to accountability and integrity, highlighting the significant societal respect enjoyed by accountants through history.
In her keynote address, President Murmu emphasized the crucial role played by ICMAI in shaping India’s economic journey. Established in 1944, the institute has not only witnessed India’s post-Independence transformation but has also actively contributed to the country’s rise as a global economic power. Though their efforts often remain behind the scenes, cost and management accountants (CMAs) have made a lasting impact on industrial development and financial efficiency.
The President highlighted how the profession has evolved—from managing factory-level costs to offering strategic financial insights in corporate boardrooms. “CMAs are now essential contributors to policy development, helping both central and state governments, as well as private organizations, in formulating cost-effective strategies,” she said.
She noted that ICMAI has become a strong partner in national progress, particularly by supporting organizations in creating efficient costing systems and financial manuals. This transition from traditional roles to broader strategic positions reflects the growing complexity and responsibility of cost accountants in today’s dynamic economy.
Addressing a global concern, President Murmu underscored the growing importance of sustainability. “The climate crisis demands urgent action, and cost accountants have a role to play here too,” she said. “Profit can no longer be the sole driver of business—environmental and social costs must also be factored in.”
Encouraging students, she urged the new generation of CMAs to view themselves not just as financial professionals but as key contributors to India’s transformation into a Viksit Bharat (Developed India) by 2047. Their education and ethical grounding position them uniquely to lead responsibly in a rapidly changing world.
President Murmu concluded by expressing confidence in ICMAI’s mission to produce future-ready professionals who are not only efficient and skilled but also conscious of their role as nation-builders in the truest sense.
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