The panel will submit the report after the federal budget in July, the official said.
Government is taking steps to boost growth of economy with an aim to take it to USD 5 trillion in next 5 years, said Piyush Goyal.
The policy addresses broad areas of e-commerce ecosystem such as infra development, market places, regulatory issues among others.
India is embroiled in disputes with United States over tariffs, Indian price caps on imported medical devices, most from the US.
The US has rolled back incentives under its Generalised System of Preferences (GSP) programme from June 5.
At a time when the world is witnessing trade wars across nations, India too will be impacted.
Mumbai with 14,770 new jobs and Delhi with 10,800 new jobs will be the leaders for (FMCG/D), the report said.
Fiscal deficit target to as much as 3.6 per cent of GDP from an already upwardly revised target of 3.4 per cent.
The Council also held consultations to obtain inputs and suggestions of the financial sector regulators for the Budget.
India’s central bank and the govt is in the midst of cleaning up a banking system saddled with the world’s worst NPA ratio.