<h1>India Updates Industrial Classification to NIC-2008 for Global Alignment and Investor-Friendly Business Environment.</h1> The National Industrial Classification system has been updated from NIC-1987 to NIC-2008 to better align with international standards and accommodate changes in the economy's structure. This upgrade aims to be more investor-friendly and facilitate smoother approvals and registrations for Indian businesses by providing a contemporary classification system. The NIC-2008 will replace NIC-1987 for classifying activities related to industrial licenses and IEM proposals, enhancing global recognition and acceptance for Indian enterprises.