As per extant usage, National Industrial Classification-1987 (NIC-1987) version is applicable for the purpose of classification of activities in respect of industrial license/ IEM proposals submitted to the Department of Industrial Policy & Promotion. It has been decided to switch over to the NIC-2008, which is an improved version providing a more contemporary industrial classification system in the light of changes in the structure and composition of the economy, changing user requirements and compatibility with international standards. The upgradation decision, with immediate effect, to NIC-2008 will assist new businesses, being more investor friendly and internationally-attuned, as compared to the previous version of NIC Code.

Henceforth, NIC-2008 code would be followed in place of NIC-1987 for classification of activities, thus, allowing Indian businesses to undertake globally recognized and accepted classification that facilitate smooth approvals/ registrations and categorization.

Industrial classification updated to NIC-2008, replacing previous coding and enabling internationally aligned approvals for licensing and registrations The Government has replaced NIC-1987 with NIC-2008 for classification of activities in industrial licence and IEM proposals, effective immediately; NIC-2008 is a contemporary, investor-friendly, internationally aligned taxonomy intended to facilitate approvals, registrations and categorisation of businesses.