A microgrid is a trending small-scale power system comprising of distributed power generation, power storage, and load. This article presents a brief overview of the microgrid and its operating characteristics. The integration of microgrids with the existing power system has been challenging and requires time to time modifications. To analyze the changing demand, the article discusses the modifications made in IEEE 1547 integration standards. The article recollects and reviews the control strategies of certain microgrid testbeds installed all around the world. A focus has been drawn toward the integration of microgrids in a developing country like India. An overview of the policies followed and the challenges faced to integrate the microgrid in the Indian power industry is presented. The article concludes with the worthy findings for the future aspects of research to improve the overall performance along with the smooth integration of the microgrid.