The Ministry of Statistics and Programme Implementation (MoSPI) recently unveiled the National Industrial Classification (NIC) 2025. This release took place during a significant event commemorating the 75th anniversary of the National Sample Survey (NSS) and World Statistics Day 2025.
The NIC serves as the standardized framework for categorizing all economic activities in India. It plays a crucial role in statistical surveys, censuses such as the Annual Survey of Industries, and national accounts, including GDP calculations. Initially introduced in 1962, the classification has undergone several revisions to adapt to international standards and the evolving economic landscape, resulting in editions like NIC 1970, NIC 1987, NIC 1990, NIC 1998, NIC 2004, and NIC 2008. The NIC 2025 marks the latest update in this series.
The NIC 2025 has been meticulously crafted by MoSPI to align with the International Standard Industrial Classification of All Economic Activities (ISIC) Revision 5, developed by the United Nations Statistics Division (UNSD). The revision process received guidance from the Expert Committee for Revision of Economic Classifications (ECREC).
The NIC 2025 introduces a novel 6-digit coding structure, replacing the previous 5-digit system of NIC 2008. This shift is significant as it provides the granularity necessary to differentiate specific modern activities, such as distinguishing "fintech" from general financial services. This enables a more accurate measurement of the digital and green economies.
The NIC 2025 is poised to become a vital statistical standard for compiling and analyzing economic indicators across sectors. It will aid in accurately identifying and reporting economic activities consistently and comparably, thereby enhancing the precision of economic data analysis and reporting.
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