{"id":36408,"date":"2025-01-29T19:18:14","date_gmt":"2025-01-29T13:48:14","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=36408"},"modified":"2025-01-29T19:18:15","modified_gmt":"2025-01-29T13:48:15","slug":"msme-digital-commerce-team-initiative","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/29-01-2025\/msme-digital-commerce-team-initiative","title":{"rendered":"Team Initiative To Boost Digital Commerce For MSMEs"},"content":{"rendered":"\n

Syllabus: GS3\/ Economy<\/strong><\/p>\n\n\n\n

In News<\/strong><\/h2>\n\n\n\n
    \n
  • The Ministry of Micro, Small & Medium Enterprises (MSME), in collaboration with the Open Network for Digital Commerce (ONDC)<\/strong>, has launched the MSME Trade Enablement and Marketing (TEAM) Initiative<\/strong>.<\/li>\n<\/ul>\n\n\n\n

    Key Highlights<\/strong><\/h2>\n\n\n\n
      \n
    • Budget:<\/strong> \u20b9277.35 crore over three years (FY 2024-25 to FY 2026-27).<\/li>\n\n\n\n
    • Target Beneficiaries:<\/strong> 5 lakh MSEs (50% women-led enterprises).<\/li>\n\n\n\n
    • Implementation Partner:<\/strong> National Small Industries Corporation (NSIC).<\/li>\n\n\n\n
    • Focus Areas: <\/strong>Onboarding the Micro & Small Enterprises (MSEs) onto ONDC\n
        \n
      • Digital storefronts, integrated payment systems, and logistics support<\/li>\n\n\n\n
      • Financial assistance for seller onboarding, catalogue creation & account management<\/li>\n\n\n\n
      • Conducting 150+ workshops in Tier 2 & Tier 3 cities for MSMEs, especially SC\/ST & women entrepreneurs<\/li>\n\n\n\n
      • Strengthening linkages with PM Vishwakarma & Digital MSME schemes<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n

        Why TEAM Initiative?<\/strong><\/h2>\n\n\n\n
          \n
        • Bridging MSMEs with Digital Commerce: <\/strong>By integrating with ONDC, MSEs can expand their market presence and reduce operational barriers.<\/li>\n\n\n\n
        • Formalizing MSMEs:<\/strong> Helps establish digital transaction histories, enhancing credibility & trust among customers and financial institutions.<\/li>\n\n\n\n
        • Empowering Startups & Tech Enablers: <\/strong>The initiative allows startups to develop innovative solutions using the ONDC Network to support small businesses.<\/li>\n\n\n\n
        • Enhanced Visibility: <\/strong>Digital presence can improve brand visibility and attract new customers.<\/li>\n\n\n\n
        • Improved Credibility:<\/strong> Formalizing operations and establishing digital transaction histories can enhance trust and credibility with customers.<\/li>\n<\/ul>\n\n\n\n

          What is ONDC?<\/strong><\/h2>\n\n\n\n
            \n
          • ONDC (Open Network for Digital Commerce) <\/strong>is an initiative by the Department for Promotion of Industry and Internal Trade (DPIIT)<\/strong>, Ministry of Commerce, Government of India.\u00a0<\/li>\n\n\n\n
          • It is designed to democratize digital commerce by breaking the dominance of a few large e-commerce platforms and creating an open, decentralized network where buyers and sellers can interact across multiple platforms seamlessly.<\/li>\n\n\n\n
          • Key Features of ONDC<\/strong>\n
              \n
            • Interoperability: <\/strong>Unlike traditional marketplaces (Amazon, Flipkart, etc.), ONDC allows buyers and sellers to interact across different apps without being restricted to a single platform.<\/li>\n\n\n\n
            • Decentralized Network: <\/strong>ONDC is not a platform but a network where businesses and individuals can buy and sell across multiple e-commerce apps.<\/li>\n\n\n\n
            • Inclusivity for MSMEs & Startups: <\/strong>Small businesses can join ONDC without needing their own website or app, helping them reach a wider audience.<\/li>\n\n\n\n
            • Competitive Pricing:<\/strong>\u00a0 By eliminating middlemen and restrictive commission structures, ONDC allows sellers to offer better prices to consumers.<\/li>\n\n\n\n
            • Support for Multiple Sectors: <\/strong>Initially focused on retail and food delivery, ONDC is expanding into logistics, mobility, wholesale trade, and more.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n

              Source: ET<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

              The Ministry of Micro, Small & Medium Enterprises (MSME), in collaboration with the Open Network for Digital Commerce (ONDC), has launched the MSME Trade Enablement and Marketing (TEAM) Initiative.<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-36408","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/36408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=36408"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/36408\/revisions"}],"predecessor-version":[{"id":36409,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/36408\/revisions\/36409"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=36408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=36408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=36408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}