Maharashtra, which is India's largest economy, has witnessed crucial appointments by the state government to drive the economic machinery. Among the appointments to the state's Economic Advisory Council (EAC) are the sons of Indian billionaires - Karan Adani, the son of India's richest man Gautam Adani and Anant Ambani, the son of India's second-richest man Mukesh Ambani.
The appointments have drawn nationwide attention and the council will be led by Tata Sons Chairman Natarajan Chandrasekaran while it will also have 21 members from various industries. Speaking about the council, Maharashtra's Deputy Chief Minister Devendra Fadnavis said that the EAC will play a vital role in achieving the goal of a $1 trillion economy.
Speaking in the legislative council, Fadnavis said, "It (EAC) will function as a private research body with a focus on issues related to agriculture banking, engineering, and education among others." It must be noted that in last October, the Maharashtra state cabinet approved the formation of the Maharashtra Institution for Transformation with an objective of achieving a development for the state through building an association with the private sector and non-governmental organizations.
According to reports, Anant Ambani will be representing the power sector of the council and Karan Adani, who is the Chief Executive Officer of Adani Port, will represent ports and special economic zones of the council. Besides Anant Ambani and Karan Adani, the council will be comprising of Sanjeev Mehta, the chairman and managing director of Hindustan Unilever Limited and Amit Chandra, the managing director of Bain Capital.
The council will also include SN Subramanian, CEO and Managing Director of Larsen and Toubro, Vikram Limaye, former CEO of the National Stock Exchange, Dilip Sanghvi, the managing director of Sun Pharma, Anish Shah, CEO of Mahindra & Mahindra, and Shrikant Badve, CEO of Badve Engineering. It has been expected that the Economic Advisory Council will formulate a five-year plan for the state in the next three months.