The India Fund, Inc. (NYSE: IFN; the “Fund”), a closed-end management investment company that seeks long-term capital appreciation by investing primarily in equity securities of Indian companies, today announced unaudited results for the three months ended March 31, 2009.

For the three months ended March 31, 2009, the Fund’s net realized losses were $50,944,538 and the net change in unrealized gains was $20,178,660, equal to $1.32 and $0.52 per share, respectively. Net investment loss for the three months ended March 31, 2009 was $1,212,792, equal to $0.03 per share. For the same three month period ended March 31, 2008, the Fund's net realized gains and net change in unrealized losses were $194,883,863 and $939,009,703, respectively, equal to $4.59 and $22.10 per share, respectively. Net investment loss was $4,531,597, equal to $0.11 per share.

On March 31, 2009, total net assets of the Fund were $636,925,822, and the net asset value (“NAV”) per share was $16.55 based on 38,478,622 shares outstanding. The Fund's common stock closed on the New York Stock Exchange on March 31, 2009 at $16.93 per share, representing a premium of 2.30% to the Fund’s March 31, 2009 NAV. On March 31, 2008, total net assets of the Fund were $1,911,883,334, and the NAV per share was $47.33 based on 40,390,932 shares outstanding. The Fund's common stock closed on the New York Stock Exchange on March 31, 2008, at $45.47 per share, representing a discount of 3.93% to the Fund’s March 31, 2008 NAV.

In April 2003, stockholders of the fund voted to adopt an interval fund structure, pursuant to which the Fund conducts semi-annual repurchase offers for between 5% and 25% of the Fund’s outstanding common stock.

During the three months ended March 31, 2008 the Fund conducted one repurchase offer. The repurchase offer commenced on February 20, 2009 and expired on March 13, 2009. In connection with the repurchase offer, the Fund purchased 160,011 shares of capital stock at a total cost of approximately $2,658,430, net of a 2% repurchase fee of $49,315.

On March 31, 2009, investments in equity securities of Indian companies totaled $616,288,548 (or 96.76% of the Fund's net assets), investments in U.S. securities totaled $3,569,643 (or 0.56% of the Fund’s net assets), investments in Exchange Traded Notes totaled $782,772 (or 0.12% of the Fund’s net assets), and investments in cash and cash equivalents including foreign currencies totaled $14,625,877 (or 2.30% of the Fund's net assets). Assets in excess of liabilities totaled $1,658,982 (or 0.26% of the Fund's net assets), accounting for the remaining net assets.

The India Fund, Inc. is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in Indian equity securities. The Fund conducts semi-annual repurchase offers and is traded on the New York Stock Exchange under the trading symbol “IFN”.

Blackstone Asia Advisors L.L.C. serves as the Investment Manager to the Fund. The Investment Manager is an affiliate of The Blackstone Group L.P.

Information on the Fund can be obtained on the Blackstone website (www.blackstone.com) or by calling the Fund’s toll-free phone number at 1-866-800-8933.

This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as “may,” “will,” “expect,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Such forward-looking statements are based on the Fund’s current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund’s filings with the Securities and Exchange Commission.

Blackstone Asia Advisors L.L.C.
1-866-800-8933