It has been launched under the "Raising and Accelerating MSME Productivity (RAMP)" Programme of the Ministry of MSME.

• RAMP is the World Bank supported Central Sector Scheme implemented by Ministry of Micro, Small & Medium Enterprises (MoMSMEs) over the 5 year period 2022-23 to 2026-27.
• It aimed at improving access of MSMEs to market, finance & technology upgradation by enhancing the outreach of existing MoMSME schemes. 

About TEAM Initiative 

• Aim: Empower MSMEs by enabling access to digital commerce through ONDC, promoting their market reach & reducing the cost of doing business.
  • The initiative will leverage Digital Public Infrastructure through ONDC to support micro and small enterprises (MSEs).
• Outlay: ₹277.35 crore 
• Duration: FY 2024-2025 to FY 2026-2027.
• Target beneficiaries: 5 lakh MSEs (50% will be women-owned MSEs).
• Implementing Agency: National Small Industries Corporation (NSIC). 
• Eligibility Criteria: MSEs with valid Udyam Registration under manufacturing or service sectors. 
  • Medium Enterprises are not eligible for most benefits.

What is Open Network for Digital Commerce (ONDC)?

• It is initiative of Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, aimed at democratizing digital commerce. 
• Unlike traditional platforms, ONDC enables interoperability across buyer & seller applications.