Govt Launches Rs.277Cr. Scheme To Help MSMEs !

Launch of the TEAM Scheme to Boost E-commerce for MSEs

On MSME Day 2024, celebrated on Thursday, MSME Minister Jitan Ram Manjhi announced the launch of a new Trade Enablement & Marketing (TEAM) scheme with an ambitious outlay of Rs 277.35 crore for the period of 2024-27. This initiative aims to enhance e-commerce access for Micro and Small Enterprises (MSEs) through the government’s Open Network for Digital Commerce (ONDC).

With the challenges faced by many MSEs lacking the necessary digital infrastructure, Budget limitations prevent enterprise from investing in digital resources and dur to lack of confidence many MSE owners are hesitant to operate in the digital sphere.

Benefits and Reach:

The Ministry of MSME expects the TEAM scheme to benefit 5 lakh MSEs over the next three years, with a targeted focus on 50% women-owned enterprises. To create awareness and ensure widespread participation, the ministry plans to organize 150 e-commerce workshops in tier 2 and tier 3 cities and MSME clusters.

Implementation and Support

The TEAM scheme will be implemented by the National Small Industries Corporation (NSIC) under the World Bank-supported RAMP (Raising and Accelerating MSME Performance) programme. This structured approach ensures that MSEs receive comprehensive support in their digital transition.

Six Pillars of MSME Initiatives

Minister Manjhi highlighted the six pillars that underpin the MSME-related initiatives:

1. Formalization and Access to Credit: Streamlining processes to help MSEs formalize their operations and access financial resources.
2. Increased Access to Market and E-commerce Adoption: Enabling broader market access through digital commerce.
3. Increased Productivity through Modern Technology: Promoting the adoption of advanced technologies to enhance productivity.
4. Enhanced Skill Levels and Digitalization in the Service Sector: Upskilling MSEs to navigate and leverage digital tools.
5. Support to Khadi, Village, and Coir Industry: Aiming to globalize traditional industries and provide them with modern market access.
6. Empowerment of Women and Artisans: Encouraging enterprise creation among women and artisans to foster economic growth.

The Yashasvini Campaign:

Alongside the TEAM scheme, the MSME Minister Jitan Ram Manjhi, the Yashasvini campaign is a groundbreaking initiative aimed at empowering women entrepreneurs across India, particularly in tier 2 and tier 3 cities. This campaign is part of the broader efforts by the Ministry of Micro, Small, and Medium Enterprises (MSME) to foster inclusivity and economic growth by supporting women in business.

The launch of the TEAM scheme and the Yashasvini campaign marks a significant step towards empowering MSEs and promoting their participation in the digital economy. By addressing the challenges faced by these enterprises and providing comprehensive support, the Ministry of MSME aims to create a more inclusive and robust e-commerce ecosystem.