MUMBAI, Sept 17: The first meeting of the special advisory committee (SAC) constituted by the prime minister comprising India's top industrialists will be held in New Delhi on September 18.The committee consists of industrialists Ratan Tata, Nusli Wadia, Anand Mahindra, Mukesh Ambani and Suresh Krishna among others, who will meet on Friday to discuss the current economic downturn in the industry.Addressing shareholders at the annual general meeting of Tata Chemicals here on Thursday, chairman Ratan Tata said that the agenda of the committee would most probably be to suggest measures to improve the prevailing economic conditions."The chief executives would rise above the problems that affect their own company and try to suggest measures which would improve the overall economic condition," Tata said, while answering a shareholder's query regarding the advisory committee and its role.For Tata, this is going to be a crucial factor, because the group recently made miffed exits from two major proposedprojects: an airport project in Bangalore in a consortium with Raytheon of the US, and a domestic airline in technical collaboration with Singapore Airlines. It is unlikely that the issue of the airline will come up at the prime minister's office (PMO), said sources.The prime minister's move follows a nation-wide tour by finance minister Yashwant Sinha, during the course of which he travelled from city to city, communicating with industrialists and financial intermediaries. The finance minister sought to clear doubts about the health of the economy, and tried to understand policy areas which are still clouded, and therefore require immediate attention. He visited six cities, including the commercial capital of the country, Mumbai, in the course of his visit.
