The NIC, first set in 1962, classifies industries for national accounts and policy. Its updates shape how India measures growth and structural change
India’s economy has shifted to digital services, green energy, and gig work. Without new codes, fast-growing sectors risk being left out of official data
Outdated classifications can distort national accounts, overstating old industries while undercounting emerging ones, leaving gaps for policymakers
Continuity is vital for researchers. Clear concordance tables linking old and new codes can preserve long-term data and ensure comparability
The gig economy is expanding fast. From food delivery to freelancing, excluding it risks underestimating employment and creating regulatory blind spots
Aligning NIC-2025 with global standards boosts investor trust. Recognising AI, green jobs, and circular economy activities will make India’s data future-ready