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of <h1>India Adopts NIC-2008 for Industrial Licenses and Proposals, Enhancing Global Compatibility and Investor Appeal.</h1> The Government of India has announced the transition from the National Industrial Classification (NIC) 1987 to NIC 2008 for classifying activities related to industrial licenses and IEM proposals. This shift aims to align with contemporary economic structures, user needs, and international standards, making the classification system more investor-friendly and globally recognized. The NIC-2008 code will now be used for approvals, registrations, and categorization, effective immediately. The decision is intended to facilitate smoother business operations and enhance international compatibility for Indian businesses.
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