The Nationalist Congress Party (NCP) skipped the meeting.
It was, however, attended by dissident JD(U) MP Ali Anwar Ansari, who is opposed to his party's alliance with the BJP in Bihar.
West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee attended the meeting, besides leaders of Left parties.
CPI(M) general secretary Sitaram Yechury said that the opposition parties have to build an alternative narrative to counter Prime Minister Narendra Modi and his BJP, whose political power has reached a historic high in the last three years after the party won a series of assembly polls.
He told reporters that this could be done through effective strategy and taking up pro-people issues such as agrarian crisis.
The meeting would deliberate on these matters, he said.
He indicated that a small group of opposition leaders might be formed to carry forward the consultation process.