The Confederation of Indian Industry has revised its projection of the GDP growth this fiscal from 6.5 per cent to seven per cent.
Speaking to reporters during the national council session of CII, Anand Mahindra, president of the confederation, said things were looking quite bright, specially for the agriculture sector, in view of the excellent progress of the monsoon.
He said the national council expressed concern at the growing appreciation of rupee vis-a-vis US dollar, adding despite the benefits of the Indian currency getting stronger, the exporters were concerned about its adverse impact on their margins.
This was mainly because of the stiff competition from countries like China, he said, adding the currencies of those countries were protected from such fluctuations.
He said efforts would be made by the CII to sensitise the government and the Reserve Bank of India to proactively intervene in the forex market to regulate this trend.
"Any appreciation of Indian rupee over 10 per cent against US dollar will certainly affect India's export competitiveness," he added.
Mahindra said though CII was happy at the pace of progress in road infrastructure especially in respect of the golden quadrilateral project, there was not much headway in projects related to the railways and airports.