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

..... National Industrial Classification Upgraded to More Investor Friendly, Internationally-Attuned System
News and Press Release
Dated:- 27-6-2014

As per extant usage, National Industrial Cl .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... assification-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 & Pr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... omotion. 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 co .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... mposition 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, thu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

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

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X