Ministry of MSMEs Unveils the MSME Trade Enablement and Marketing (TEAM) Initiative

 Ministry of MSMEs Unveils the MSME Trade Enablement and Marketing (TEAM) Initiative

The MSME Trade Enablement and Marketing (TEAM) Initiative has been launched as part of the "Raising and Accelerating MSME Productivity (RAMP)" program by the Ministry of MSMEs.

RAMP is a World Bank-supported Central Sector Scheme being implemented by the Ministry of Micro, Small, and Medium Enterprises (MSMEs) over a five-year period from 2022-23 to 2026-27. The program aims to improve MSMEs' access to markets, finance, and technology upgrades by expanding the reach of existing Ministry of MSMEs schemes.

About the TEAM Initiative

Objective: The initiative seeks to empower MSMEs by providing access to digital commerce through ONDC, enhancing their market presence, and lowering the cost of doing business. It will utilize Digital Public Infrastructure via ONDC to support micro and small enterprises (MSEs).

Budget: ₹277.35 crore
Duration: FY 2024-2025 to FY 2026-2027
Target Beneficiaries: 5 lakh MSEs, with 50% being women-owned enterprises.
Implementing Agency: National Small Industries Corporation (NSIC)

Eligibility: Only MSEs with valid Udyam Registration in the manufacturing or service sectors are eligible. Medium Enterprises are not eligible for most benefits.

What is Open Network for Digital Commerce (ONDC)?

ONDC is an initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, aimed at democratizing digital commerce. Unlike traditional platforms, ONDC promotes interoperability between buyer and seller applications, facilitating broader digital access.

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