TEAM Initiative by MSME

TEAM Initiative by MSME

The Ministry of Micro, Small & Medium Enterprises (MSMEs) has introduced the MSME Trade Enablement and Marketing (TEAM) Initiative under the Raising and Accelerating MSME Productivity (RAMP) program. RAMP, a five-year World Bank-supported scheme (2022-23 to 2026-27), aims to enhance MSME access to markets, finance, and technology by strengthening existing government schemes.

About the TEAM Initiative

• Objective: To empower MSMEs by integrating them into digital commerce via the Open Network for Digital Commerce (ONDC), improving market accessibility and reducing operational costs.
• Implementation: Led by the National Small Industries Corporation (NSIC), the initiative will leverage Digital Public Infrastructure to support micro and small enterprises (MSEs).
• Budget & Timeline: ₹277.35 crore from FY 2024-25 to FY 2026-27.
• Beneficiaries: 5 lakh MSEs, with 50% being women-owned businesses.
• Eligibility: MSEs registered under the Udyam portal in manufacturing or service sectors. Medium enterprises are excluded from most benefits.

Understanding ONDC
The Open Network for Digital Commerce (ONDC) is an initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce. Unlike conventional e-commerce platforms, ONDC fosters interoperability between buyer and seller applications, promoting a more inclusive and decentralized digital marketplace.

Mind Sprint