<SEC-DOCUMENT>0000950123-09-023057.txt : 20110624
<SEC-HEADER>0000950123-09-023057.hdr.sgml : 20110624
<ACCEPTANCE-DATETIME>20090717115400
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-09-023057
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20090717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INDIA FUND INC
		CENTRAL INDEX KEY:			0000917100
		IRS NUMBER:				133749070
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
		BUSINESS PHONE:		866-800-8933

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDIA FUND INC /NY NEW
		DATE OF NAME CHANGE:	19940106
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">
 </div>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SIMPSON THACHER &#038; BARTLETT LLP<BR>
<FONT style="font-variant: SMALL-CAPS">425 Lexington Avenue</FONT><BR>
<FONT style="font-variant: SMALL-CAPS">New York, New York 10017-3954</FONT><BR>
<FONT style="font-variant: SMALL-CAPS">(212)&nbsp;455-2000</FONT><BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-variant: SMALL-CAPS">Facsimile: (212)&nbsp;455-2502</FONT>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="30%"></TD>
    <TD width="45%"></TD>
    <TD width="25%"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><U>VIA EDGAR</u></TD>
    <TD>&nbsp;</TD>
    <TD>July&nbsp;17, 2009</TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">Re:&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The India Fund, Inc. (the &#147;Fund&#148;)<br>
<U>File Nos. 811-8266 and 333-159611</U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Larry L. Greene<BR>
Senior Counsel<BR>
Division of Investment Management<BR>
U.S. Securities and Exchange Commission<BR>
100 F Street, NE<BR>
Washington, D.C. 20549-0505

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Mr.&nbsp;Greene:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On behalf of the Fund, we hereby transmit the Fund&#146;s responses to the comments to
Pre-Effective Amendment No.&nbsp;1 to the Registration Statement on Form N-2 (the &#147;Amendment&#148;)
originally filed with the Commission on May&nbsp;29, 2009 (the &#147;Registration Statement&#148;). The Amendment
was filed on July&nbsp;9, 2009. On July&nbsp;14, 2009, we were provided by telephone with comments from the
staff of the Commission (the &#147;Staff&#148;) regarding the Amendment. For ease of reference, we have
reproduced the Staff&#146;s comments in italics, followed by the Fund&#146;s response. Please note that all
page numbers in our responses are references to page numbers of the Amendment. The responses and
information discussed below are based upon information provided to us by the Fund.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Larry L. Greene
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">-2-
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">July&nbsp;17, 2009</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Prospectus Cover</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Revise the price table by deleting the word &#147;Estimated&#148; from both captions.</I></TD>
</TR>


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The requested change has been made.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Prospectus</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Disclosure sub-captioned &#147;Prospectus Summary &#151; Purposes of the Offer&#148; indicates that the
Board believes that increasing the size of the Fund will &#147;improve liquidity of the trading
market for the Fund&#146;s shares on the NYSE ...&#148; With respect to this disclosure, advise the
staff whether lack of liquidity of Fund shares has been an issue for investors. Disclose the
potential effects of the rights offering on current market price.</I></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Lack of liquidity of Fund shares has not been an issue for investors in the Fund. However,
the Fund believes that liquidity in trading of the Fund&#146;s shares may be enhanced as a
result of the Fund having more shares outstanding after the offering. The Fund is unable
to predict the potential effect of the offering on the market price of its shares because
the market price of the Fund&#146;s shares is, among other things, determined by the supply and
demand for the Fund&#146;s shares, the Fund&#146;s investment performance and investor perception of
the Fund&#146;s overall attractiveness as an investment as compared with alternative
investments.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In Amendment No.&nbsp;1 the disclosure sub-captioned &#147;Prospectus Summary &#151; Purposes of the
Offer&#148; on page 1 and &#147;The Offer &#151; Purposes of the Offer&#148; on page 21 was revised to say that
increasing the assets of the Fund through this offer may provide the following benefit:
&#147;<U>enhanced</U> liquidity of the trading market for the Fund&#146;s shares on the NYSE...&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In Amendment No.&nbsp;1 disclosure was added under &#147;Risk Factors and Special Considerations at a
Glance-The Fund&#146;s shares have traded and may in the future trade at a discount to net asset
value&#148; on page 9 and &#147;Risk Factors-The Fund&#146;s shares have traded and may trade in the
future at a discount to net asset value&#148; on page 44 that states that the Fund cannot
predict the potential effect of the offering on market price and explains that several
factors can impact the Fund&#146;s market price.</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Please advise the staff how companies that are organized under the laws of India or whose
shares are principally traded in India, but do not meet another test, are sufficiently tied
economically to India.</I></TD>
</TR>



<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Fund&#146;s Investment Manager believes that a significant portion of the companies in which
the Fund invests would meet all three prongs. To the extent that a company does not meet
all three prongs, such company would still be sufficiently economically tied to India
because companies that are organized under the laws of India (satisfying the first prong)
or have securities which are traded principally on an Indian stock exchange or Indian
over-the-counter market (satisfying the third prong) generally repatriate almost all of
their earned income back to India<I>. </I>These repatriated earnings are counted as part of
India&#146;s overall gross domestic product<I>. </I>In</td></tr>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Larry L. Greene
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">-3-
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">July&nbsp;17, 2009</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>addition, a company that is listed on an Indian stock exchange (satisfying the third prong)
would also satisfy the first prong because all companies listed on an Indian stock exchange
are required to be organized under the laws of India.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We also refer you to the disclosure on pages 38-39 under &#147;Risk Factors&#151;Indian securities
markets are substantially smaller, less liquid and more volatile than securities markets in
the United States&#148; which states the following: <I>&#147;</I>Under current Indian law, only companies
organized under the laws of India may list their securities on the Indian securities
exchanges or over-the-counter markets, except for Indian depositary receipts. If we invest
in Indian depositary receipts or if Indian law changes in this regard, the Fund would be
able to invest in companies that are principally traded in India but which may be organized
outside of India, which could subject the Fund to different risks of the country where they
are organized. Similarly, Indian companies may have operations outside of India and,
accordingly, may be subject to risks in the various countries where
they have operations. An investment in a company that is organized or
principally traded in India, but does not derive at least 50% of its
revenue in India or have at least 50% of its assets in India, may
also be subject to risks in the various countries where it has
operations because such a company may be more economically tied to a
country other than India.&#148;

</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>With respect to the disclosure under the sub-caption &#147;A change in the Fund&#146;s tax status could
adversely affect the Fund&#146;s return on its investments&#148;, who will be responsible for paying the
liability? Add disclosure regarding the impact on the Fund if the Fund has to pay the interest
and penalties. Disclose that the Fund intends to seek relief for the payment of the
liability. Disclose whether the Fund has adopted procedures to prevent this from happening
again. Will the Fund definitely be required to pay the Internal Revenue Service (&#147;IRS&#148;) some
amount of interest and penalties? Is a successful outcome with the IRS likely?</I></TD>
</TR>



<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As discussed with the Staff by telephone on July&nbsp;15, 2009 and submitted in our response to
the Staff&#146;s comments provided by letter dated July&nbsp;1, 2009, the Board has notified
Oppenheimer (the Fund&#146;s prior management) that it does not believe that it is appropriate
for Fund shareholders to bear the tax liability and related costs and that Oppenheimer
should be responsible for reimbursing the Fund. There is no guarantee that the Fund will
be successful in seeking reimbursement from those responsible for the
error or that the
liability will be reduced. The Fund has already accrued for the potential liability.
Therefore, there would be no impact to the Fund&#146;s net asset value if the Fund is required
to pay the penalty. However, shareholders would be impacted to the extent the Fund has to
sell securities to generate cash to make such payment. This would result in a reduction in
the Fund&#146;s total assets. The Fund has implemented additional procedures to prevent this
from happening again. Disclosure has been added regarding the impact on the Fund if it has
to pay the interest and penalties, the Fund&#146;s intention to seek relief from those
responsible for the error and the Fund&#146;s implementation of additional procedures to ensure
timely filing of tax returns.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Fund is currently pursuing Section&nbsp;9100 relief with the Associate Chief Counsel,
Financial Institutions and Products, of the IRS. Discussions continue with the IRS
regarding supplemental requests for information. If the Fund is
successful in seeking
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Larry L. Greene
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">-4-
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">July&nbsp;17, 2009</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>relief, the Fund may not be required to pay any amount of interest and penalties to the
IRS. It is not possible to predict or quantify the likelihood or timing of a successful outcome with
the IRS.
</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Disclosure regarding portfolio manager compensation captioned &#147;Portfolio Manager &#151; Bonus&#148;
indicates that the manager received an annual cash bonus and that the compensation was based,
in part, on performance determined or measured relative to a benchmark. Accordingly, identify
the benchmark and disclose the measuring period used to determine compensation.</I></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Ms.&nbsp;Kumar-Sinha&#146;s bonus is based upon evaluations and determinations made by the Blackstone
Compensation Committee which take into account a variety of factors including the
performance of all of the accounts she manages and accordingly is not determined by
reference to any one benchmark. The performance of comparative indices for the accounts
that she manages may be taken into consideration. The N-2 discloses on page 78 the
comparative indices which have been used by Blackstone&#146;s Compensation Committee to assist
in determining Ms.&nbsp;Kumar-Sinha&#146;s bonus. Regarding the measuring period used to determine
compensation, the following disclosure was added to Amendment No.&nbsp;1 on page 78: &#147;Ms.
Kumar-Sinha&#146;s performance is evaluated for the prior calendar year and also takes into
account her longer-term record.&#148;</TD>
</TR>

</TABLE>
</DIV>







<DIV align="center" style="font-size: 10pt; margin-top: 18pt">* * *
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We note that the Fund has not submitted, nor does it expect to submit, an exemptive
application or a request for no-action relief in connection with the registration statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We trust that these responses adequately address your comments. If you have any questions or
additional concerns or if you need any additional information, please do not hesitate to contact
Sarah Cogan (212-455- 3575), Gabrielle Kelleher (212-455- 7696) or Matthew Hanley (212-455-2031) of
this firm.
</DIV>









<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">Very truly yours,

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">/s/ SIMPSON THACHER &#038; BARTLETT LLP

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%">SIMPSON THACHER &#038; BARTLETT LLP

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
