A recent downward revision of Indian export statistics compiled by the Ministry of Commerce created a US$7.2bn discrepancy when the Reserve Bank of India published its report of export income inflows. The figures compiled by the Reserve Bank accounted more inflows than reported as shipped. This created some consternation about the reliability of government data. The discrepancy is starkly out of sync with earlier trends when the differences were in the range of US$1bn.
The likely explanation lies in the fact that payments for exports trail shipments by many months. Therefore the lower shipment figures compiled by the Ministry of Commerce will be reflected in lower export income inflows in later months.
Source: The Economic Times (India) 2011-12-15