MSME Trade Enablement and Marketing (TEAM) Initiative

31.01.2025

MSME Trade Enablement and Marketing (TEAM) Initiative

Why in the news?   

          Recently, the Ministry of Micro, Small, and Medium Enterprises, 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 the MSME 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.
• Funding: The initiative has a budget of ₹277.35 crore over 3 years.
• Targeted beneficiaries: It will cover 5 lakh micro and small enterprises, with 50 per cent of these being women-led businesses.
• 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.
• 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.
• It will focus on:
  • Connecting MSMEs with the ONDC Network
  • Providing access to digital storefronts, integrated payment systems and logistics support
  • Reducing operational barriers and helps businesses tap into wider customer bases
  • Formalizing operations and establishing digital transaction histories, which will enhance the credibility and trust of participating MSMEs

                                                         Source: The Hindu Business line

With reference to MSME Trade Enablement and Marketing (TEAM) Initiative, consider the following:

1. It has been launched under the "Raising and Accelerating MSME Productivity (RAMP)" Programme.

2. It is an initiative in partnership with the Open Network for Digital Commerce (ONDC).

3. It will focus on onboarding 5 lakh micro and small enterprises, with 50 per cent of these being SC/ST led businesses.

How many of the above statements are correct?

A.Only one

B.Only two

C.All three

D.None

Answer B