President addresses national students’ convocation
The Statesman | 2 July 2025
President Droupadi Murmu addressed the national students’ convocation of the Institute of Cost Accountants of India (ICMAI), highlighting the critical role of cost accountants in India’s economic progress and its journey towards a sustainable future.
The 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 add special significance to accounting.” She even referenced Mahatma Gandhi’s early experience with bookkeeping, emphasising his commitment to cost-efficiency not just for financial savings but for the preservation of invaluable resources.
The President 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. “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.
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.