Govt Seeks Public Feedback On Overhaul Of Industrial Classification System

(MENAFN- Live Mint) NEW DELHI: The Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday released the draft National Industrial Classification (NIC)–2025 for public consultation, inviting feedback from industry, academics, and citizens. The framework underpins statistical surveys, censuses, business registrations, and policy design.

The classification, last updated in 2008, is being revamped to reflect shifts in India's economy as well as global standards. The revision follows the United Nations Statistical Commission's adoption of ISIC Revision 5 last year, and seeks to capture emerging sectors such as renewable energy, fintech, digital commerce, and healthcare technologies.

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MoSPI has invited comments until 20 September through email and an online portal, after which the framework will be finalized.

“The draft NIC-2025 has been formulated under the aegis of an expert committee comprising eminent academicians, economists, industry associations, and experts from various domains. Extensive consultations were also done with stakeholders, including central Ministries/ Departments, industry experts, and other relevant organizations,” MoSPI said in a statement.

The draft aligns with ISIC Revision 5 at the four-digit level, ensuring global comparability of India's data, while introducing additional sub-classes to meet national requirements. Special emphasis has been placed on high-growth areas such as renewable energy , fintech , e-commerce, AYUSH healthcare, and the broader digital economy .

As a result, the number of sub-classes has risen sharply to about 1,900, from 1,304 under NIC-2008. New categories for platform-based services, virtual asset providers, and environmental technologies reflect the growing weight of digital and green sectors. The expansion also offers greater precision in measuring activity across health, agriculture, telecom, and finance.

These refinements are expected to give policymakers, researchers, and businesses sharper insights into how different parts of the economy are evolving.

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India's National Industrial Classification, first introduced in 1962 and revised periodically, serves as the country's economic taxonomy. It standardizes how industries and activities are categorized, ensuring consistency of data across sectors and over time.

Beyond its technical role, it shapes how policymakers and businesses interpret structural shifts, identify emerging industries, and design evidence-based policies.

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