Narayan Rane, union minister for micro, small and medium enterprises (MSME), has said the government is planning to integrate the B2B platform, MSME Global Mart, with the Open Network for Digital Commerce (ONDC) to strengthen small businesses.
What Happened? In a recent interview with Mint, Rane revealed the move would increase the visibility of Indian MSMEs to customers. When asked about the government’s digititalisation plans for MSMEs, Rane highlighted the ministry’s numerous initiatives to help these businesses utilise e-commerce for product marketing.
As part of India’s 75th Independence year celebrations, the MSME ministry is offering a 75% subsidy to micro-enterprises for adopting e-commerce platforms via the MSME Global Mart, the ministry’s official B2B portal.
Rane explains that MSME Global Mart is a global B2B e-marketing platform designed to provide market access and business growth to MSMEs by enhancing visibility. The government is currently upgrading the portal to host virtual exhibitions for MSMEs, positioning it as an alternative to traditional trade fairs and exhibitions. This integration with ONDC aims to further support MSMEs.
Rane also mentioned the Ministry’s Procurement and Marketing Support (PMS) scheme, which aims to boost market access initiatives and improve the marketability of products and services in the MSME sector.
Under the PMS scheme, micro-enterprises are eligible for financial aid towards annual membership fees, subscription fees, and contingency costs for selling their products or services via the MSME Global Mart, operated by the National Small Industries Corporation.
The financial assistance under this scheme covers 75% of the amount paid by micro-enterprises, up to a maximum of ?25,000 (excluding applicable taxes) per financial year, whichever is less.