Names of corporate bigwigs Ratan Tata, Jagdish Khattar of Maruti Udyog, Kiran Shaw Majumdar of Biocon and Habil Khorakiwala of Wockhardt, Sashi Ruia of Essar Steel are doing the rounds for membership of the National Manufacturing Competitiveness Council.
Prime Minister Manmohan Singh is expected to decide on the chairperson of the council shortly.
Economists Isher Judge Ahluwalia and Suman Berry, Director General, NCAER, are likely to be roped in as members of the NMCC.
The Prime Minister's Office has already issued a directive that a decision on the NMCC should be taken by September 15 and that the terms of reference of the council should not overlap with that of the Investment Commission. The PMO has also said the membership of the council should include senior functionaries from the government and the private sector.
The Department of Industrial Policy and Promotion has finalised the proposal for the council for consideration of the Cabinet Committee on Economic Affairs. It has also shortlisted the names of several corporate and public sector bigwigs for inclusion as members.
The NMCC will have the mandate to develop manufacturing strategy with a medium to long-term perspective for strengthening and improving the competitiveness of the manufacturing industry in general, and export-oriented industries in particular.
The council would include as its members secretaries of the ministries of Commerce, Planning Commission, Department of Economic Affairs, Chemical and Petrochemical, Textiles, Food Processing, Heavy Industries, Mines, Environment and Forests and Communication and Information Technology.
It would also have as its members representatives of the three industry chambers, CII, FICCI and Assocham, besides the Federation of Indian Export Organisation, representatives of the public sector and two eminent economists.
The NMCC, which would be set up under the Ministry of Commerce and Industry would be an autonomous body registered as a society under the Societies Registration Act.
The role of the council will include identifying problems facing priority sector in respect to size, technology and modernisation need.