MUMBAI, India, July 7 -- Intellectual Property India has published a patent application (202621050043 A) filed by Prof. Surabhi Kakade; Ashish Jagtap; Alok Jaiswal; Anushree Kabra; Isha Kantiwar; and Shriyash Kothe on April 20, 2026, for Free Text To Industrial Code Using Semantic Search..
Inventors include Prof. Surabhi Kakade; Ashish Jagtap; Alok Jaiswal; Anushree Kabra; Isha Kantiwar; and Shriyash Kothe.
The application for the patent was published on July 03, 2026, under issue no. 27/2026.
Abstract: Industrial classification systems include the National Industrial Classification (NIC) in India and North American Industry Classification System (NAICS), they are important elements of modern economic governance they help to standardize the measurement of economic activity, compliance with regulation, form the basis of sectorial analysis and help in policy development. The correct recording of industry codes is of essence in ensuring consistency in economic records and making sound decisions at governmental and financial institutes. However, assigning relevant codes is often a challenging process prone to errors. Companies generally characterize their work by informal accounts, but registration systems require them to pick out of strict and hierarchical taxonomies. The presence of such a discrepancy may lead to misclassification especially when the business operations are ambiguous, multi-functional or where they are described using nonstandard terminology. The issue is further complicated when there is more than one language, because descriptions can be made with regional or non-English language. Existing NIC and NAICS look up systems are mainly based on key word search and manual choices. It is expected that the users should be able to predict appropriate terms, but such systems have a low level of effectiveness to deal with the differences in language or semantics. They, therefore, do not reflect various manifestations of similar business operations this paper identifies the gaps in the current classification strategies and highlights the urgency of smart systems that will be able to match the free-text description of business with standard industrial codes more precisely and more effectively in an automated fashion. Keywords — Industry Code Assignment, Natural Language Processing, NAICS, NIC, Semantic Search
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