Notably, half of these beneficiary MSMEs will be women-owned enterprises, he added
Last week, it was reported that the government was looking to launch a new scheme to help MSMEs join the ONDC network and start selling their products online
Besides, MSME TEAM, another initiative, Yashasvini, was also launched, aimed at formalising women-owned informal micro-enterprises and providing capacity building, training, handholding and mentorship to the women-owned enterprises
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The Centre has rolled out a new initiative to facilitate onboarding of 5 Lakh micro and small businesses on the Open Network for Digital Commerce (ONDC) platform.
The MSME Trade Enablement and Marketing (TEAM) scheme was launched by Union Minister for Micro, Small & Medium Enterprises (MSMEs) Jitan Ram Manjhi with a budget of INR 277 Cr for three years.
“The MSME TEAM Initiative aims at facilitating five lakh micro and small enterprises for onboarding onto the Open Network for Digital Commerce by providing financial assistance for onboarding, cataloguing, account management, logistics, packaging material and design,” Manjhi said.
Notably, half of these beneficiary MSMEs will be women-owned enterprises, he added.
Last week, it was reported that the government was looking to launch a new scheme to help MSMEs join the ONDC network and start selling their products online.
Besides, MSME TEAM, another initiative, Yashasvini, was also launched, aimed at formalising women-owned informal micro-enterprises and providing capacity building, training, handholding and mentorship to the women-owned enterprises.
“A series of campaigns will be organised by the Ministry of MSME in collaboration with other Central Ministries/Departments/State Governments and Women Industry Associations during FY24-25, focusing on tier 2 and 3 cities in the country,” the ministry added.
Manjhi further outlined six pillars that would drive the MSME sector growth.
These include formalisation and access to credit, increased access to market and e-commerce adoption, increased productivity through modern technology, enhanced skill levels and digitalisation in the service sector, boosted khadi, village and coir industries and empowerment of women, and artisans, through enterprise creation.
These initiatives come at the heart of ONDC introducing several initiatives to onboard small businesses.
In February this year, it rolled out the DigiReady Certification Certificates DRC portal for MSMEs to help them assess their preparedness to join the ONDC network as sellers.
Before this, ONDC even partnered with Meta to educate MSMEs to build conversational buyer and seller experiences on WhatsApp through Meta’s business and technical solution providers.
Besides, a push for MSMEs using the ONDC network was also among the priorities outlined in the BJP manifesto for general elections.
It is pertinent to note that ONDC aims to democratise ecommerce by providing services at lower costs compared to other online marketplaces.
Launched in 2021 under the aegis of the Department for Promotion of Industry and Internal Trade (DPIIT), ONDC is an open protocol-based network to enable local commerce across multiple segments, including grocery, mobility, among others.
Not to mention, the Indian e-commerce market is poised to reach a size of $400 Bn by the end of 2030 growing at CAGR of 19% during the period.
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