India Compliance Updates

India's HR industry is seeing a trend of companies remaining private due to various reasons, one of them being the complexity in compliance.
Informal employment dominated and compliance complexity are some of the reasons behind India's HR companies remaining privately owned.
- The Ministry of Corporate Affairs has launched the Companies Compliance Facilitation Scheme, 2026, to help defaulting companies.
- Vijay Kedia has invested in AI-powered compliance through Socify.ai, with a vision to target a 4 billion dollar market by 2030.
- The MCA is considering global audit norms, placing responsibility on group auditors, in a bid to improve transparency and accountability.