Compliance: The Rising Demand in India and Future Perspectives
.jpg)
Compliance: The Rising Demand in India and Future Perspectives Introduction: Compliance has emerged as a significant area of focus in India, driven by a changing regulatory landscape and a growing emphasis on good governance. Organizations across industries are recognizing the importance of compliance to mitigate risks, ensure ethical practices, and maintain their reputation. In this article, we will explore why compliance is in high demand in India and discuss its future prospects. 1. Strengthening Regulatory Framework: In recent years, India has witnessed a series of regulatory reforms aimed at enhancing transparency, accountability, and investor confidence. The introduction of significant legislation such as the Companies Act, 2013, the Goods and Services Tax (GST), and the Insolvency and Bankruptcy Code (IBC) has raised the compliance bar for businesses. Compliance ensures adherence to these complex regulations, reducing the risk of penalties and legal repercussions. 2. Tackling Fr...