MSME TEAM Initiative: Enhancing Digital Presence for Small Businesses
| Category | Details |
|---|---|
| Why in News? | MoMSME launched the MSME TEAM Initiative with a ₹277.35 crore budget over three years to enhance the digital presence of MSMEs via the ONDC network. |
| Objective | - Onboard 5 lakh MSMEs, with a focus on women-led and SC/ST enterprises. - Facilitate integration into the ONDC ecosystem with digital storefronts, payment systems, and logistics support. |
| Workshops & Training | - Conduct 150+ workshops in Tier 2 & Tier 3 cities. - Focus on digital literacy, compliance, catalogue creation, payment integration, and logistics management. |
| Financial Assistance | - Support Seller Network Participants with catalogue creation, operations, and account management. |
| Role of ONDC | - Democratizing e-commerce by providing an open, decentralized platform for small businesses. - Reducing dependence on large e-commerce platforms. |
| Advantages of ONDC | - Transparency & Competition: Encourages fair pricing & consumer choice. - Innovation & Cost Efficiency: Uses open-source architecture to reduce costs. - Inclusivity: Enables small sellers to reach wider markets. |
| Challenges of ONDC | - Complexity & User Adoption: Requires user-friendly interfaces & training. - Dispute Resolution & Customer Service: Needs a robust grievance mechanism. - Competition from Established Platforms: Must offer unique value & seamless experience. |