Prime Minister's Council on Trade and Industry today reviewed the economic situation, in the wake of volatile financial conditions in some European countries. The council comprising top industrialists and bankers attended the meet chaired by Prime Minister Dr Manmohan Singh. Finance Minister Pranab Mukherjee and Commerce and Industry Minister Anand Sharma, industrialists Ratan Tata, Mukesh Ambani and Sunil Mittal, and banker Chanda Kochhar also attended the meet.The council is believed to have discussed the possible impact of the European financial crisis on the Indian economy, which is projected to grow by 8.5 per cent in the current fiscal.