Concerns were raised that the lineup, announced just days ago, placed too much emphasis on remote areas.
There are two people on the council from Cape York alone.
But the chair of the council said he is happy with the make-up of the group.
"We wanted an economic, a commercial, a business approach. And the make-up of the council has done that. We have got some people there from very different walks of life," Mr Mundine told NITV News.
He says remote Indigenous communities won't be ignored.
"Yes, there [is] going to be a focus on remote areas and Homelands. How do we get economic development and jobs into those communities? But it is across the board. If we're really going to make the biggest changes of all, it's [going to be] in the suburbs of Sydney, Melbourne, Perth and Brisbane."
The head of Reconciliation Australia and newly appointed member of the group, Leah Armstrong, agrees.
"What we have on the Council is a broad selection, in terms of engagng with business, which I think are key to addressing the disadvantage."
Mr Mundine was approached by Tony Abbott in February to help him set up the council.