New Delhi, June 29 -- Small and midsized enterprises (MSMEs) are grappling with high regulatory compliance costs, with annual expenses ranging between Rs 13-Rs 17 lakh, according to a latest report by Regulatory Technology (Regtech) solutions firm TeamLease Regtech.

In its report titled 'Decoding Compliance for Manufacturing MSMEs in India' it deciphers the intricate web of compliance obligations, encompassing licences, approvals, registrations, and permissions, that MSMEs must navigate throughout the lifecycle of setting up, operating, and closing an enterprise.

The report highlights that a typical manufacturing MSME with a single unit in one state is subject to over 1,450 compliance obligations annually, cutting across seven categorie...