President Murmu Urges Cost Accountants to Champion Sustainability and Nation Building

In her keynote speech, the President noted the deep respect accorded to accountants throughout Indian history.

The Hon’ble President of India, Smt. Droupadi Murmu, graced the National Students’ Convocation of the Institute of Cost Accountants of India (ICMAI) in the national capital today, delivering an address that underscored the historic significance, present responsibilities, and future promise of cost and management accountants (CMAs) in India's developmental journey.

Reverence for Accountants Rooted in Indian Values

In her keynote speech, the President noted the deep respect accorded to accountants throughout Indian history. “Accounting and accountability are intrinsically linked,” she emphasized, “and since we value accountability, accounting has always held a special place in our society.” This, she explained, is why cost accountants command high moral and professional esteem.

ICMAI: A Legacy Institution Shaping India's Economy

Established in 1944, even before India’s independence, ICMAI has not merely witnessed but actively contributed to the country’s post-independence economic growth. President Murmu lauded the institute’s critical role in supporting India’s industrial and economic transformation over the decades, describing it as a “crucial, albeit often behind-the-scenes, partner in India’s rise as a global economic power.”

From manufacturing floors to corporate boardrooms, CMAs have expanded their scope, evolving from cost calculators to strategic advisors. Their analytical input helps shape policies, improve efficiencies, and enable evidence-based decision-making in both public and private sectors.

CMAs as Partners in Policy and Progress

The President acknowledged the institute’s role in supporting central and state governments, think tanks, and corporations in devising cost-effective and efficient operational frameworks. “Whether in formulating budgets, designing cost systems, or developing regulatory mechanisms, CMAs play a role that goes far beyond numbers,” she said.

She also praised ICMAI’s commitment to nurturing professionals who bring integrity, precision, and accountability to the sectors they serve, adding that the nation depends on their insights to optimize resources and reduce inefficiencies.

The Environmental Imperative: CMAs and Sustainability

A notable highlight of the President’s address was her emphasis on the pressing climate crisis. “Sustainability is no longer a catchphrase,” she declared. “It is a necessity.” As global conversations shift towards environmental accountability, CMAs, with their expertise in evaluating environmental and social costs, are uniquely equipped to help businesses transition toward sustainable operations.

She urged young cost accountants to go beyond the traditional roles of budgeting and compliance and to become advocates of green accounting and environmentally responsible business practices. “You can make a defining difference in the future of the planet,” she told the graduating students.

A Call to Build Viksit Bharat by 2047

President Murmu concluded her address with a visionary appeal, encouraging the newly minted professionals to align their careers with the national mission of building a “Viksit Bharat” (Developed India) by 2047 — the centenary of Indian independence. She expressed her confidence that the rigorous education provided by ICMAI will empower them not just to become competent professionals but true nation-builders.

In closing, she reminded the young CMAs that their role isn’t confined to ledgers and reports but extends into the realm of public trust and national service.