**Summary:**
On June 23, 2025, the President of India, Smt. Droupadi Murmu, addressed the National Students Convocation of the Institute of Cost Accountants of India (ICMAI) in New Delhi. The President highlighted the historical importance of accountants in Indian society, emphasizing the connection between accounting and accountability. She acknowledged ICMAI's role since its founding in 1944 as a key contributor to India's economic growth and its support to policymakers in developing cost-efficient strategies. The President further emphasized the evolving role of Cost and Management Accountants (CMAs), particularly in addressing climate change and promoting sustainability, urging them to contribute to India's transformation into a Viksit Bharat by 2047. She expressed confidence in ICMAI's ability to educate professionals who will contribute to nation-building.
Key Entities Referenced
President of India: The Head of State of India. In this context, referring to Smt Droupadi Murmu.
Smt Droupadi Murmu: The current President of India who addressed the National Students Convocation.
National Students Convocation of the Institute of Cost Accountants of India: The event graced by the President of India.
New Delhi: The city in India where the National Students Convocation took place.
Institute of Cost Accountants of India: An organization founded in 1944 for the regulation and development of cost and management accountants in India (ICMAI).
ICMAI: Abbreviation for Institute of Cost Accountants of India
Indian economy: The economy of India, described as one of the strongest in the world
central and state governments: The governments at the federal and provincial levels in India.
CMAs: Cost and Management Accountants.
Viksit Bharat: Developed India by 2047
President's Secretariat
President of India graces National Students’
Convocation of the Institute of Cost Accountants of
India
Posted On: 23 JUN 2025 1:25PM by PIB Delhi
The President of India, Smt Droupadi Murmu graced the National Students’ Convocation of the Institute of
Cost Accountants of India in New Delhi today (June 23, 2025).
Speaking on the occasion, the President said that throughout our history, accountants have enjoyed high
esteem in our society. The reason for that is that accounting and accountability are deeply connected. We
value accountability; therefore, we attach special significance to accounting.The President said that in modern times, this rich legacy is carried forward by, among others, the Institute of
Cost Accountants of India. The ICMAI was founded in 1944 for the regulation and development of the
profession of cost and management accountants in the country. That makes it a witness to the saga of India’s
economic transformation after Independence. Not only a witness, in fact, it has been a very crucial player in
making the Indian economy one of the strongest in the world today. It has played its role away from the
limelight, but experts in economic and corporate history appreciate the significance of the inputs of cost and
management accountants in our industrial growth.
The President said that the ICMAI has been a partner in the country’s progress as it provides highly valuable
support to policymakers, to central and state governments as well as to various organisations in developing
cost-efficient strategies, systems and manuals. CMAs have meanwhile seen their functions growing from cost
accounting in factories to management accounting in boardrooms.The President said that the world is facing the crisis of climate change. Sustainability is no longer a slogan; it
has become a necessity. That time is over when corporate organisations worked solely with the profit motive.
Now they have to keep the environmental costs in mind. And this is where CMAs, with their skills, can bring
about a great change in the future of the planet.
The President advised students to keep in mind that their responsibilities extend far beyond financial
accounting. As cost accountants, they are uniquely positioned to contribute to India's transformation into a
Viksit Bharat by 2047. She expressed confidence that the education imparted by ICMAI will enable them to
become not only successful professionals, but also nation-builders.
Click here to see the President's speech
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MJPS/SR/SKS
(Release ID: 2138851)