National Industrial Classification Upgraded to More Investor Friendly, Internationally-Attuned System

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ational Industrial Classification Upgraded to More Investor Friendly, Internationally-Attuned System <br>News and Press Release<br>Dated:- 27-6-2014<br><BR>As per extant usage, National Industrial Cla....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssification-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 & Pro....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....motion. 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 com....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....position 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 ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., allowing Indian businesses to undertake globally recognized and accepted classification that facilitate smooth approvals/ registrations and categorization.<BR> News - Press release - PIB....