The President of India graces the National Students’ Convocation at the Institute of Cost Accountants of India.
New Delhi, India, June 23, 2025 — The President of India, Draupadi Murmu, graced the National Students’ Convocation of the Institute of Cost Accountants of India in New Delhi today (June 23, 2025). In her speech, she highlighted the historical significance of accountants in our society and the crucial role of the Institute of Cost Accountants of India in India’s economic development.
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 to regulate and develop the profession of cost and management accountants in the country. That makes it a witness to India’s economic transformation after Independence. Not only a witness, but it has also been a crucial player in making the Indian economy one of the strongest in the world today. It has played its role away from the limelight. Still, experts in economic and corporate history appreciate the significance of the inputs of cost and management accountants in our industrial growth.
The President stated that the ICMAI had been a key partner in the country’s progress, providing highly valuable support to policymakers, central and state governments, as well as various organizations in developing cost-efficient strategies, systems, and manuals. CMAs have meanwhile seen their functions grow from cost accounting in factories to management accounting in boardrooms.
The President noted that the world is facing a climate change crisis. 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 must consider the environmental costs. It is where CMAs, with their expertise in cost management and analysis, can bring about significant change in the future of the planet by helping businesses make more sustainable and environmentally friendly decisions.
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. She urged them not only to focus on profit but also to consider the social and environmental impacts of their decisions and to utilize their skills to help businesses and the economy become more sustainable and equitable.
Source: President’s Secretariat
— The editor of CitiTimes holds a professional certificate from the Institute of Cost Accountants of India. In 1990, he represented Chandigarh at the prestigious All-India Cost Conference, a significant event organized by the Institute of Cost and Works Accountants of India. This memorable conference was inaugurated by the President of India and featured a thought-provoking keynote address by the Minister of Law, Justice, and Company Affairs. Held at the elegant Vigyan Bhawan, the event was complemented by tea at the Constitution Club and dinner at Hotel Imperial, creating a sophisticated atmosphere for networking and discussion among the attendees.
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