Page 56 - Banking Finance March 2025

FEATURES

their productivity with global standards. As highlighted in Excellence in Maritime and Shipbuilding, to ensure a steady
the Economic Survey 202425, India's business enterprises supply of skilled workers.
contribute significantly less to the overall R&D expenditure
in the country, than their global counterparts. Collaborations with leading shipbuilding nations for joint
educational programmes, modernising naval architecture
This gap is evident in the shipbuilding sector as well, where curriculum in universities, and introducing specialised
shipyards and firms in the ancillary industry must courses such as shipbuilding robotics and modular ship
substantially increase their investment in R&D across all construction will address industry needs.
levels of the value chain, viz., marine equipment, ship
Moreover, school level ship model making contests, college
design, production technologies, and terminal facilities.
level ship design competitions, and tailored ITI courses will
R&D Thrust spark early interest and inspire young talent to pursue
shipbuilding.
Prioritising R&D in core ship technologies such as high
capacity marine engines, gas turbines, shafting, gearboxes, There is also a need to invest in technology to make blue
propellers, intelligent monitoring systems and cargo collar shipbuilding jobs of technicians and other skilled
handling systems, will reduce import dependence and labourers more lucrative. These combined efforts in
improve cost and time efficiency. Shipyards should also invest education, skill development and technology advancement
in R&D for producing carbon efficient ship design across will cultivate a new generation of skilled shipbuilders, driving
conventional and future vessels, including energy and goods India's shipbuilding sector forward.
carriers, cruise ships, deep sea exploration platforms and
inland ships. As highlighted in the Economic Survey 2022-23, shipbuilding
will be a key driver for achieving India's Viksit Bharat @2047
Shipbuilding combines capital and labour-intensive aspirations due to the sector's high employment and
processes, requiring both technological investments and a investment multipliers and strong reliance on MSMEs.
skilled workforce. The Centre has been making continuous
efforts to improve the country's skilling landscape. Beyond driving economic growth, building an indigenous
fleet will be crucial for ensuring national economic
Building on the skill development initiatives taken in the July sovereignty and strengthening maritime security.
2024 Budget, this Budget has announced the setting up of
the National Centres of Excellence for Skilling with global The Budget marks a significant step in this direction by
partnerships. The shipbuilding industry should leverage these setting India on course to becoming a leading shipbuilding
centres, alongside institutions such as the Centre for nation. (Source: BusinessLine)

SEBI enforces new 30-day rule for mutual fund NFO deployment

to prevent mis-selling
The Securities and Exchange Board of India (SEBI) has introduced a significant regulatory change for asset management
companies (AMCs), mandating the deployment of funds raised through new fund offers (NFOs) within 30 days of unit
allotment. This new rule, effective from April 1, 2025, aims to ensure that AMCs only raise funds that can be reasonably
deployed within a short timeframe, thereby curbing the potential for mis-selling of mutual funds. Until now, there was
no specified period for fund deployment, which often led to delays.
According to SEBI's circular, AMCs are required to outline achievable timelines for fund deployment in the Scheme
Information Document (SID) of each mutual fund scheme. This documentation must align with the fund's asset allocation
strategy. "The AMC shall deploy the funds garnered in an NFO within 30 days from the date of allotment of units," the
SEBI circular stated.

50 | 2025 | MARCH | BANKING FINANCE