Discuss industrial classification. Which organisation publishes data on industrial statistics in India?
Or Why there is a need for a system of industrial classification?
Ans. Industrial classifications classify economic activities in countries and regions and are used as the basis for the compilation and publication of statistics on industries and sectors. Statistical data is organised and presented according to certain classifications. In other words, they follow certain formats, so that it is easier to understand and facilitate their wider use. It is useful for people who would be using it, say decision-makers and managers in industry and government policy-makers. Another requirement of statistical system is their comparability over time and for international comparison, so that it needs to be standardised. The spectrum of economic activities is classified into classes, sub-classes and groups. Subgroups of activities build up a standard classificatory framework called the National Industrial Classification (NIC). This is based on the recommendations of the statistical commission of the United Nations. The UN has given the International Standard Industrial Classification (ISIC) of all economic activities. In India, the CSO (Central Statistical Organisation) in New Delhi, which is responsible for setting up of statistical standards, has formulated the National Industrial Classification. This has been undertaken by economic units which facilitates analysis of structure of output, employment and capital among others. International Standard Industrial Classification (ISIC): UN gave ISIC in 1948 for adoption by various countries. This classification was however reviewed from time to time based on the experience gained from different countries. Therefore, the review was carried out in 1956, and again in 1979 leading to ISIC-1958 (Rev.1), ISIC-1968 (Rev.2), ISIC-1990 (Rev.3) and ISIC-2002 Rev 3.1 systems. In each instance, the Commission emphasised the need to maintain as much comparability between the revised and preceding versions of ISIC as was possible, while introducing the alterations, modifications and other improvements. At present we have ISIC (Rev.4) with which is normally followed in all the countries. International Standard Industrial Classification (ISIC) Rev. 4 In this update to ISIC, Rev.4, the structure of the classification and the boundaries of its building blocks underwent lot of changes in respect of certain industries. Owing to the change in contemporary world, many new activities related to informal sector and information and communication technology sector were included in this revision. Industrial and Product Classifications in India: In India, the Central Statistical Organisation (CSO) in the Ministry of Statistics and Programme Implementation is vested with the responsibility of setting up standards for collection, compilation and dissemination of statistical data.
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