The affairs of the Chamber are managed by a Governing Council, comprising the President, Vice-President and eighteen elected members and ten to twelve co opted members.  The term of the Committee and office bearers is one year. The co-opted members are from industries, academic, and other institutions.

The Governing Council of the Madras Chamber comprises top industrialists, chief executives of multinational and national corporations, board members of public enterprises, heads of financial institutions, and management experts. The Governing Council meets from time to time and deliberates issues that need to be addressed to further the cause of the business community.

The Governing Council through the President and Vice-President, interacts closely with the Governments, both at the State and Centre, Financial Institutions, the Planning Commission, RBI, and other bodies on all matters of interest to industry and trade.