Indian Government Integrates MSME Global Mart into ONDC
PMS Scheme Bolsters Sales on MSME Global Mart
28 May 2023
|
Kunal Tyagi
Indian government integrates MSME Global Mart into the Open Network for Digital Commerce (ONDC) to strengthen the MSME sector.
Upgraded MSME Global Mart offers virtual exhibitions as a substitute for trade fairs, empowering MSMEs in e-commerce marketing.
The Procurement and Marketing Support (PMS) scheme provides financial assistance to micro-enterprises for MSME Global Mart usage, covering 75% of expenses up to Rs 25,000 per year.
The Indian government is taking significant steps to bolster the MSME (micro, small, and medium enterprises) sector. Union Minister Narayan Rane recently announced the integration of MSME Global Mart, a B2B platform, into the Open Network for Digital Commerce (ONDC) through a tweet.
In an interview, Minister Rane highlighted that the upgraded MSME Global Mart will now feature virtual exhibitions, serving as an alternative to conventional trade fairs. This development aims to enable MSMEs to leverage e-commerce and effectively market their products online.
The government is also introducing the Procurement and Marketing Support (PMS) scheme. Under this initiative, micro-enterprises will receive financial assistance for annual membership fees, subscription fees, and contingency expenses incurred while using MSME Global Mart for selling their products or services.
Apply to Xartup Fellowship Program
Get ₹1.5 Crore Technical Funding
The PMS scheme covers 75% of the amount paid by micro-enterprises, up to a maximum of Rs 25,000 (excluding taxes) per financial year. This support seeks to facilitate market access and improve the marketability of MSMEs' offerings.
Operated by The National Small Industries Corporation (NSIC), MSME Global Mart is a comprehensive e-marketing portal that enhances the visibility of small businesses. It provides opportunities for businesses to expand their reach, establish alliances, compare prices, access global tenders, and generate leads.
By integrating MSME Global Mart into the ONDC and introducing virtual exhibitions, the government aims to empower MSMEs in India to thrive in the digital era. This move enables MSMEs to tap into the potential of e-commerce, access a wider customer base, and explore new business opportunities. The government's initiatives aim to create a favorable environment for the growth and success of MSMEs in the country.
Startup news delivered to your mail
Recommended for you
“Zepto can be the next D-Mart of India”- Co-Founder and CEO of Zepto
CRED Ventures Into Luxury Travel Space With Escapes: Third Launch In A Month
Prozo Raises $5.4M in Pre-Series B Funding to Expand Supply Chain Network and SaaS Platform