FICCI places growth projection at 7%

India's Apex business Chamber, the Federation of Indian Chambers of Commerce & Industry or FICCI on Friday placed India's growth projection for 2008-09 at 7% rejecting the 5% rate projected by the International Monetary Fund. The IMF had projected a 5% growth for India in 2009 on the plea that world growth rate would be falling to its lowest level since the Second World War.