 "AM integrates digital technologies such as big data analytics, machine learning, geolocation and wearable devices to automate or support functions traditionally performed by human managers. | Representative Picture")
In a bid to capture the new and emerging sectors of the economy in the wake of technological advancement and innovation, the statistics ministry on Tuesday released the National Industrial Classification (NIC) 2025 — the first revision since the last classification was released in 2008.
The NIC 2025 introduces a new six-digit coding structure, in place of the existing five-digit structure, thus allowing greater granularity and better representation of emerging economic activities in statistical surveys, censuses, economic research and policy formulation. Meanwhile, at the class (four-digit level) and sub-class level, the number of activities has increased to 463 and 1,887
