The Council includes companies like Tata Motors, Flipkart, Airtel, P&G, Madison World, ICICI Bank, HUL, Micromax and Future Group among others.
Apart from India, Facebook has global, EMEA, Brazil and UK councils.
"There are now more than 100 million people in India connected through Facebook and in the past year, we have invested heavily in creating solutions that are tailored to the needs of people and advertisers here," Facebook India Managing Director Kirthiga Reddy said.
This is the next step in the efforts to better serve partners — the India Client Council, she added.
"In India and around the world, the rate of people with access to digital services and devices is skyrocketing, and for many here the mobile phone has already become a true lifeline, providing information about market prices, healthcare, banking, employment and entertainment," she said in a blog.
This rapid acceleration of mobile presents businesses with unprecedented opportunities to reach their customers, but also new challenges, Reddy said.
"Facebook is committed to helping businesses navigate this changing landscape, and the Client Council makes our clients and agency partners a key part of this journey," she added.
India is the largest market for Facebook outside the US, with over 100 million users. Globally, it had 1.35 billion monthly active users as of September 30, 2014.
GroupM CEO CVL Srinivas said the initiative will help discuss the future of marketing by igniting conversations amongst some of India;s most influential marketers.
"Facebook has been one of the key growth partners for Flipkart and the e-commerce industry at large. I am really keen on engaging in an open and transparent idea sharing platform with other people in the Indian ecosystem to find ways in which we can grow not just our business, but trade and commerce in general," Flipkart CEO Sachin Bansal said.