Vigyan Bhawan, New Delhi
The Hon’ble President of India, Smt. Droupadi Murmu, addressed the National Students’ Convocation of the Institute of Cost Accountants of India (ICMAI) on 23rd June 2025, highlighting the critical role of cost accountants in India’s economic progress and its journey towards a sustainable future.
Hon’ble President underscored the historical reverence for accountants in Indian society, stating, “Throughout our history, accountants have enjoyed high esteem in our society. The reason for that, I believe, is that accounting and accountability are deeply connected. We value accountability; therefore, we attach special significance to accounting.” She even referenced Mahatma Gandhi’s early experience with bookkeeping, emphasizing his commitment to cost-efficiency not just for financial savings but for the preservation of invaluable resources.
The Hon’ble President of India acknowledged the significant contribution of the Institute of Cost Accountants of India (ICMAI), since its establishment in 1944, for the regulation and development of the profession of Cost and Management Accountancy in the country. She noted that the Institute has been a vital player in India’s economic transformation, moving from a silent witness to an active participant in shaping the nation’s industrial growth. “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,” she stated. CMAs, she added, have meanwhile seen their functions growing from cost accounting in factories to management accounting in boardrooms. They now work in fields such as direct and indirect taxation, corporate laws, arbitration, insolvency, valuation, social auditing, independent directorship, banking and insurance.
A central theme of Hon’ble President’s address was the imperative of environmental responsibility. She stressed, “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 you, with your skills, can bring about a great change in the future of the planet.”
Hon’ble President urged the graduating students to recognize their expansive responsibilities beyond financial accounting. She expressed confidence that their education from ICMAI would equip them to be not just successful professionals but also nation-builders contributing to the vision of a Viksit Bharat by 2047.
During the Convocation, the Hon’ble President of India graciously awarded certificates to the toppers of the CMA Final and Intermediate Examinations, including Tejaswini Kothapeta and Rishab Ostwal R from Andhra Pradesh, as well as Nikita Bansal and Krutika Singhal from Gujarat. In total, 247 students were felicitated with awards.
Smt. Deepti Gaur Mukerjee, Secretary, Ministry of Corporate Affairs, Govt. of India, also addressed the gathering, encouraging cost and management accountants to embrace technology, innovation, and agility, highlighting their pivotal role in India’s journey towards becoming a $30 trillion economy.
CMA Bibhuti Bhusan Nayak, President of ICMAI, CMA TCA Srinivasa Prasad, Vice President of ICMAI, CMA M.K. Anand, Convener, National Students’ Convocation – 2025, CMA Vinayaranjan P, Chairman, National Students’ Convocation – 2025 and other council members of ICMAI and esteemed guests from the corporate graced the prestigious event.
The event was attended by over 1,200 students, professionals, corporate leaders, and government officials, and was live-streamed to over 100,000 members and 600,000 students globally.
About The Institute of Cost Accountants of India (ICMAI)
ICMAI is a statutory body established under The Cost Accountants Act, 1959, operating under the Ministry of Corporate Affairs, Government of India. With its headquarters in New Delhi, ICMAI boasts a vast network including four Regional Councils, 117 chapters across India, and 11 overseas centers. As the world’s largest Cost & Management Accounting body, ICMAI has over 100,000 qualified CMAs and 600,000 students. The Institute is the founder member of prestigious international accounting bodies such as the International Federation of Accountants (IFAC), Confederation of Asian & Pacific Accountants (CAPA), and South Asian Federation of Accountants (SAFA).
