Karan Adani, Anant Ambani among members of advisory panel announced by Maharastra govt to achieve $1 trillion economy goal

Tata Sons chairman N Chandrasekharan will head the Maharashtra state Economic Advisory Council (EAC) which also includes Karan Adani and Anant Ambani, a government resolution said on Monday.

Karan Adani, the CEO of Adani Ports and SEZ Ltd, is the son of Gautam Adani, who is battling allegations of stock manipulation and fraud in Adani Group raised by Hindenburg Research. The Adani Group has denied the allegations, which created a political firestorm and eroded his networth.

The Adani junior has been named as the expert on the ports and SEZ sector in the 21-member body.

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The name of Anant Ambani, the youngest son of Reliance Industries chairman Mukesh Ambani, appears next to the "diversified" sector in the list of the EAC members. Anant is the Executive Director of Reliance Industries.

"An Economic Advisory Council as an Independent Body to advise the state government on economic and other related issues…,” the government resolution said.

The council has domain experts from fields including textiles, pharma, ports, special economic zone, banking, agriculture, industries, engineering, and manufacturing.

The EAC will advise the state government on any financial or other policy matter referred to it, address issues of macroeconomic importance and present the council's views to the government.

Reacting to the GR, Leader of Opposition in Maharashtra Legislative Council Ambadas Danve, who belongs to the Uddhav Thackeray faction of Shiv Sena, has sarcastically said the state government should hand over the reins of power to Adani and others.

The 21-member panel comprises a chairman, three full-time members (who are top officials of the state government), and 17 part-time members.

Sanjiv Mehta, Chairman and Managing Director of Hindustan Unilever Ltd; SN Subramanyam, Chief Executive Officer & Managing Director, Larsen & Toubro; Milind Kamble Chairman, Dalit Indian Chamber of Commerce and Industry; Ajit Ranade Vice Chancellor, Gokhale Institute Of Politics & Economics are part of the council.

Senior bureaucrats O P Gupta Additional Chief Secretary, Finance Department, Harshdeep Kamble Principal Secretary, Industries Department, and Rajgopal Devara, Additional Chief Secretary, Planning Department, are also part of the panel.

The notification said the role of the state of Maharashtra is crucial in the fulfillment of the objective to make India a $ 5 trillion economy.

Accordingly, the goal of Maharashtra to become an economy of $1 trillion is intrinsically linked with the national goal and the collaboration of private and public sectors will help to achieve it.

To study and determine parameters of key indicators in all sectors, as well as formulate strategies for growth in these sectors aligned with the objective of a "$ 1 trillion economy", involves extensive and in-depth consultation with various stakeholders in the state, the GR said stating the objective behind setting up the EAC.

The EAC will suggest measures for achieving the Sustainable Development Goals (SDGs) and determine parameters for important indicators in all sectors as well as to formulate strategies for growth in these sectors linked to the objective of $1 trillion.

It will also submit the five-year plan document to the state government in accordance with the above mentioned matters.

Meanwhile, Ambadas Danve slammed the government in a tweet.

"Instead of running the government for Ashar and Adani why don't you hand over this state government to them (sic)," he tweeted along with a page of the GR with the name of Karan Adani encircled.

"The inclusion of Adani Group's Karan Adani in the Economic Advisor Council shows for whom the government is working. But this will not work in Maharashtra," he added.