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MOMSME and ONDC have launched a Rs. 277 crore initiative aimed at empowering 5 lakh small businesses.

National | Dated: 01 Feb 2025

On January 28, 2025, the Ministry of Micro, Small, and Medium Enterprises (MoMSME) partnered with the Open Network for Digital Commerce (ONDC), based in New Delhi, to launch the Trade Enablement and Marketing (TEAM) Initiative. This program is designed to help Small and Micro Enterprises (SMEs) join ONDC and grow in the digital world.

🎯 Key Highlights:

- The initiative has a budget of Rs. 277.35 crore for the next 3 years and aims to onboard 5 lakh micro and small businesses, with 50% of them being women-led.
- Its goal is to empower Micro, Small, and Medium Enterprises (MSMEs) to embrace digital commerce and increase their market reach.
- The TEAM Initiative is a part of the Raising and Accelerating MSME Performance (RAMP) program. It focuses on supporting women-owned MSMEs, particularly in smaller cities (Tier 2 and Tier 3).

💡 Other Important Facts:

(i) The initiative will provide MSMEs with services like logistics, account management, packaging, design, catalog creation, and help with digital operations.
(ii) It will also provide tools such as digital storefronts, integrated payment systems, and logistics support to help businesses overcome operational challenges and reach more customers.
(iii) With other programs like Startup India, Pradhan Mantri (PM) Vishwakarma Scheme, and the Digital MSME scheme already supporting the MSME sector, the TEAM Initiative will further strengthen these efforts.

📚 Test Your Knowledge:

The recent initiative launched by MoMSME and ONDC for empowering small businesses is worth how much?

Correct Answer: ₹277 crore

🚀 Quick Recap:

About Open Network for Digital Commerce (ONDC)

Non-Executive Chairperson : Ram Sewak Sharma
Headquarters : New Delhi