With the government revising exports figures upward by $14 billion for 2008-09, the data would show that the decline in the current fiscal was steeper than what was released by the commerce ministry so far.
The Directorate General of Commercial Intelligence and Statistics (DGCI&S) has revised the exports figures for the previous fiscal to $182 billion against around $168 billion released earlier.
With the change in the base, the drop in exports for the April-August period 2009-10 would be steeper than 31 per cent as shown in the data released so far.
While no official reason has been given for the revision in the export data, sources said, the difference has arisen because of the export turnover of the special economic zones which was earlier not counted in the external trade figures.
Despite persisting problems in the major global markets, the Prime Minister Economic Advisory has projected the exports to reach $186 billion, pinning its hopes on recovery in the remaining months of the current fiscal.
However, on this score Finance Minister Pranab Mukherjee did not sound optimistic and said there could be no substantial growth in India's exports till there is recovery in Europe and North America.
About 62 per cent of India's exports are destined to European and North American markets.
