MSMEs burdened by high compliance costs; face over 1,450 regulations annually: Report

A TeamLease RegTech report reveals Indian manufacturing MSMEs face hefty compliance costs, reaching Rs 13-17 lakh annually, navigating over 1,450 regulatory obligations across various laws. Entrepreneurs are urging regulatory reforms to ease burdens, streamline processes, and foster innovation, addressing concerns like supply chain issues and lack of digital connectivity.