President Droupadi Murmu Highlights Role of CMAs in Nation-Building at ICMAI Convocation
The President highlighted the profession’s historical roots, ICMAI’s global stature, and the evolving responsibilities of CMAs across diverse fields.
President of India, Droupadi Murmu, addressed the National Students’ Convocation of the Institute of Cost Accountants of India (ICMAI) in New Delhi on June 23, 2025, congratulating newly qualified professionals and highlighting the vital role of cost and management accountants in the country’s economic transformation.
She recalled the ancient tradition of accounting in India, referring to Kautilya’s Arthashastra, which offered detailed guidance on account-keeping for the treasury and manufacturing units. Emphasising the enduring link between accounting and accountability, she said this historical legacy continues to thrive through institutions like ICMAI.
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Established in 1944, ICMAI has not only witnessed India’s post-Independence economic evolution but has actively contributed to it. The President noted that the institute, now the world’s largest body of cost and management accountants, has about 1 lakh qualified CMAs and nearly 5 lakh students pursuing the course.
She appreciated how the role of cost and management accountants has expanded significantly evolving from cost accounting in factories to management accounting in boardrooms, and now covering areas such as direct and indirect taxation, corporate laws, arbitration, insolvency, valuation, social auditing, independent directorship, banking and insurance.
The President also lauded the 2022 CMA syllabus for aligning with both global standards and the National EducationPolicy, stating that it would help nurture future business leaders
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Quoting Mahatma Gandhi’s views on accounting, the President reminded students that carefully kept accounts are essential for any organisation. She urged the new professionals to uphold ethical practices and contribute towards sustainability, noting that environmental costs must now be factored into business decisions.
“As cost accountants, you are uniquely placed to support India’s journey toward becoming a Viksit Bharat by 2047,” she said, encouraging them to lead with integrity and make meaningful contributions to the nation’s progress.
President Murmu concluded by congratulating the ICMAI fraternity for its dedication and consistent support to the nation’s economic and social development.
