President Droupadi Murmu, on Monday, graced the National Students’ Convocation of the Institute of Cost Accountants of India (ICMAI) in New Delhi, where she underlined the importance of cost and management accountants in shaping India’s economic and sustainable future.
In her address, the President said that accountants have traditionally enjoyed high regard in society owing to their intrinsic link to accountability. “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,” she said.
Founded in 1944, the ICMAI has been a pivotal institution in the evolution of India’s post-Independence economy, she said, adding that its work often goes unrecognised in the public sphere but remains vital behind the scenes.
“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,” she added.
President Murmu said that cost and management accountants today serve not only in factories, but also in corporate boardrooms. Their expertise, she noted, contributes directly to policymaking and the development of cost-efficient systems for both government and private institutions.
Highlighting the growing responsibilities of the profession, the President observed that sustainability has become an unavoidable imperative in contemporary corporate life. “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,” she said.
Addressing the graduating students, President Murmu urged them to view their careers through the lens of national service and development. “As cost accountants, you are uniquely positioned to contribute to India’s transformation into a Viksit Bharat by 2047,” she said.