What is the Importance of the NIC Code in India?

Following are some important points which show the importance of NIC Code in India:

If your business or company in India contains a NIC Code then you can avail of various benefits offered by the Government of India;
To obtain Udyog Aadhar or to register a Company/LLP;
It's required to maintain track of business activity which affects the economic health. It's also used by most of the Government Departments to ensure that businesses in India are classified correctly;
For the Government to keep track of your business, ensure that you have mentioned the NIC Code on all of your invoices.