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News: The Trade Enablement and Marketing (TEAM) initiative has been launched under the Raising and Accelerating MSME Productivity (RAMP) Programme of the Ministry of MSMEs to boost digital commerce for MSMEs.
About TEAM Initiative
- The initiative aims to empower MSMEs with digital tools and guidance by integrating them with the ONDC (Open Network for Digital Commerce).
- It aims to bring 5 lakh MSMEs onto the ONDC.
- Features:
- Enables MSMEs to leverage the e-commerce marketplace.
- Helps MSMEs to widen their customer base and increase their income.
- Bolsters the credibility of MSMEs by establishing their digital presence and transaction history.
- Use of digital technologies reduces the cost of doing business.
- Promotes inclusivity by ensuring that 50% of participating businesses are women-led.
- Plans to increase awareness by conducting over 150 workshops in tier 2 and tier 3 cities.
- A budget of Rs. 277.35 crore has been sanctioned for the duration of FY 2024-25 to FY 2026-27.
- It has been launched by the Ministry of Micro, Small and Medium Enterprises (MSME) and the implementing agency is National Small Industries Corporation (NSIC).
