MSME Trade Enablement and Marketing (TEAM) Initiative

MSME Trade Enablement and Marketing (TEAM) Initiative Latest News

Recently, the Ministry of Micro, Small, and Medium Enterprises (MoMSME), in partnership with the Open Network for Digital Commerce (ONDC), has announced the launch of an initiative to enable small and micro enterprises to join ONDC.

About MSME Trade Enablement and Marketing (TEAM) Initiative

• It has been launched under the "Raising and Accelerating MSME Productivity (RAMP)" Programme.
• It is aimed to enable MSMEs to embrace digital commerce and expand their market presence.
• TEAM Initiative Funding: The initiative has a budget of ₹277.35 crore over 3 years.
• Targeted beneficiaries: It will focus on onboarding 5 lakh micro and small enterprises, with 50 per cent of these being women-led businesses.
• It will focus on
  • Connecting MSMEs with the ONDC Network.
  • Provides access to digital storefronts, integrated payment systems, and logistics support.
  • Reduce operational barriers and helps businesses tap into wider customer bases.
  • It emphasizes formalizing operations and establishing digital transaction histories, which will enhance the credibility and trust of participating MSMEs.
• Over 150 workshops will be held across Tier 2 and Tier 3 cities, targeting key MSME clusters, with special attention to women and SC/ST-led enterprises.
• TEAM Initiative Significance: These workshops will guide businesses through the process of joining the ONDC Network, creating compliant digital catalogues, and using the ecosystem to its full potential.

MSME Trade Enablement and Marketing (TEAM) Initiative FAQs

Q1: What is the primary goal of MSME Team Initiative?

Ans: To provide assistance to micro and small enterprises all across the country

Q2: Who implemented the MSME Team Initiative?

Ans: Ministry of MSME

Q3: What is Open Network for Digital Commerce (ONDC)?

Ans: It is an initiative aimed at promoting open networks for all aspects of exchange of goods and services over digital or electronic networks.

Q4: What is the main purpose of MSME?

Ans: The function of MSMEs in India is multifaceted. They serve as engines of economic growth by creating jobs, promoting entrepreneurship, encouraging innovation, and MSMEs' contribution to GDP. 

Source: THBL