NIC Code – National Industrial Classification Code
NIC code means the National Industrial Classification Code. This is a comparable statistical database for the development and maintenance of the various economic activities. The Government of India has introduced this code to track how different industrial sectors are performing towards the economic development of the country.
NIC 1987 was revised to the NIC 2008 by the United National Statistical Commission, Department of Policy and Promotion. The government has advised all Indian Companies strictly to follow NIC code 2008.
The NIC 2008 is more compatible with the international system. It helps the enrollment compliance processes to run smoothly.