Key Facts
702001 at a Glance
Code 702001
Official title Business consulting and management services (for profit) including reconstructuring consultancy
Version NIC 2025
Source authority MoSPI
Pr
NIC 2025 MoSPI source NIC 702001 - Business consulting and management services (for profit) including reconstructuring consultancy
NIC 702001 classifies business consulting and management services (for profit) including reconstructuring consultancy as a final six-digit business activity under Section N and Division 70. Use it when this activity...
Source Verification for 702001
10 / 10
4 of 4 factors passing
- Verified in official source - Found in NIC_2025.xlsx official MoSPI release dataset.
- International crosswalk available - No official ISIC/NACE/CPC/ISCO correspondence table is bundled in this build input set.
- Migration from previous edition - Legacy migration candidates present from NIC 2008: 1.
- Complete hierarchy chain - All parent levels exist: Section > Division > Group > Class > Sub-class (5 levels).
- Official size/threshold documented - No official code-level size or threshold dataset is included in this source bundle.
- Trade or export crosswalk match - No official NIC-to-HS/export correspondence table is bundled in this source bundle.
- Legacy national crosswalk - Legacy link exists via NIC 2008 converter layer (1 linked legacy codes).
NIC 2008 -> NIC 2025 Mapping for 702001
NIC 2008 links are discovery matches from the local converter layer. Verify final migration decisions against official source documents.
Practical Summary
What Business consulting and management services (for profit) including reconstructuring consultancy Means Under NIC 2025
NIC 702001 is the final six-digit endpoint for Business consulting and management services (for profit) including reconstructuring consultancy. It should be selected only when the enterprise's primary business activity matches this title more closely than 702002 Design of accounting methods or procedures, cost accounting programmes, budgetary control procedures, 702003 Policy advocacy services (non-profit), 702099 Other Business and management consultancy services activities n.e.c. including activities of cost accountants.
How To Choose
When to Choose 702001 Over Nearby Codes
Choose 702001 only when operations, invoices and revenue narrative align with Business consulting and management services (for profit) including reconstructuring consultancy. If the activity also includes 702002 Design of accounting methods or procedures, cost accounting programmes, budgetary control procedures, 702003 Policy advocacy services (non-profit), 702099 Other Business and management consultancy services activities n.e.c. including activities of cost accountants, compare those pages before filing.
In this section
702001
702002 Business consulting and management services (for profit) including reconstructuring consultancy
Design of accounting methods or procedures, cost accounting programmes, budgetary control procedures
702003 Policy advocacy services (non-profit)
702099 Other Business and management consultancy services activities n.e.c. including activities of cost accountants
Common Questions About NIC 702001
Does NIC 702001 cover regulated professional or financial work?
Use the code that matches the service actually provided. Financial intermediation, insurance, real estate, legal, accounting, consulting, engineering, advertising and R&D are separated into different professional service families.
Can an advisory firm use NIC 702001 if it serves another industry?
Usually the firm's own service determines the NIC code, not the client's industry. For example, a consultant serving manufacturers is still a consulting or professional service business if advice is the revenue activity.
How do I verify that NIC 702001 is correct before filing?
Check the parent hierarchy, compare 702002 Design of accounting methods or procedures, cost accounting programmes, budgetary control procedures, 702003 Policy advocacy services (non-profit), 702099 Other Business and management consultancy services activities n.e.c. including activities of cost accountants, and confirm that the official title matches the main revenue activity. For regulated or filing-critical decisions, verify the source row in the MoSPI dataset.
What happens if I use the wrong NIC code in Udyam or MCA registration?
A wrong code can cause mismatched business descriptions, follow-up questions or later compliance cleanup. It is better to compare nearby codes before filing than to correct a weak classification later.
Is there a legacy NIC 2008 equivalent for NIC 702001?
Use the legacy converter only as a migration aid. Old NIC 2008 matches can suggest where to look, but NIC 2025 should remain the primary reference for new code selection.
NIC 2026 guidance
Before you select NIC 702001
NIC 702001 should be selected only when the official title matches the main revenue-generating activity. If the business also trades, transports, processes, installs or supports the same product or service, compare nearby NIC pages before filing. This reduces the risk of choosing a code that describes the product being handled rather than the activity your enterprise actually performs.
Data Source and Verification Date
Source layer
Official NIC 2025 Excel and PDF from MoSPI.
Last verified
2026-04-21 from the generated NIC 2025 source layer used in this build.
Disclaimer
This is an independent reference tool. Verify filing-critical decisions in official sources.