The Confederation of Indian Industry on Monday revised upwards its projections for the country's gross domestic product growth to 7.2 per cent for 2003-04 as against its earlier projection of 6.5 to 6.8 per cent.

"Although we believe in some sense that this (7.2 per cent) projections also could be somewhat conservative," CII National President Anand G Mahindra told reporters in Bangalore.

Attributing the growth to low inflation, downward bias of interest rates and a feel good factor in the industry, he said, the CII would make a detailed announcement tomorrow on the various parameters it adopted for revising its earlier projections.

He said there was 16 per cent growth registered in exports during September as compared to previous months.

Mahindra said a CII business confidence index survey revealed an improvement of 3.3 points during the first half and improved confidence for the next six months.

"Confident index is about 4.0 points for the entire year as compared to last year," he said, adding that the Indian industry of firms in 134 sectors, Mahindra said in about nine sectors registered a growth of 20 per cent, in 42 from 10 to 20 per cent, growth of zero to 10 per cent in 55 sectors and negative growth in 20 sectors.

"This was much better compared to last year," he said, adding that India Inc was globally competitive.