For Indian businesses, especially micro, small, and medium enterprises (MSMEs), the compliance challenge is increasingly moving beyond filing returns and renewing licences. However, a deeper problem lies in the architecture of regulation itself, with thousands of obligations spread across central, state, and local authorities, as per TeamLease RegTech, a leading digital compliance and regulatory technology firm.
Currently, Indian firms navigate more than 1,530 Acts and Rules and over 69,000 compliance obligations to operate in the country. Additionally, they also deal with around 13,000 changes every year across nearly 3,750 government websites due to regulatory changes, according to TeamLease RegTech.
