Service Registry and Discovery are essential components in microservices architecture, enabling dynamic communication between services. A Service Registry acts as a central hub where microservices register themselves upon startup, allowing other services to discover them without hardcoding URLs. This flexibility enhances system resilience and scalability. Service Discovery can be implemented through client-side or server-side approaches, with tools like Netflix Eureka commonly used for managing service instances. By facilitating seamless interaction among services, Service Registry and Discovery streamline the development and maintenance of complex applications, ensuring that services can efficiently locate and communicate with one another.