<SEC-DOCUMENT>0001104659-24-043143.txt : 20240506
<SEC-HEADER>0001104659-24-043143.hdr.sgml : 20240506
<ACCEPTANCE-DATETIME>20240403170045
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ACCESSION NUMBER:		0001104659-24-043143
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240403

FILER:

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

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-405-5700

	MAIL ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDIA FUND INC
		DATE OF NAME CHANGE:	20030701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDIA FUND INC /NY NEW
		DATE OF NAME CHANGE:	19940106
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April&nbsp;3, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>VIA EDGAR</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ms.&nbsp;Eileen Smiley</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Division of Investment Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left">Re:</TD><TD STYLE="text-align: justify">The India Fund,&nbsp;Inc.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="text-align: justify">Registration Statement filed on Form&nbsp;N-2</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"></TD><TD STYLE="text-align: justify">File Nos. 333-276892 and 811-08266</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ms.&nbsp;Smiley:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On behalf of The India Fund,&nbsp;Inc. (the &ldquo;Fund&rdquo;),
we are writing to respond to the comments of the staff (the &ldquo;Staff&rdquo;) of the Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
provided in a telephone conversation with Brooke A. Clark of Dechert LLP on March&nbsp;28, 2024, relating to Pre-Effective Amendment No.&nbsp;1
to the Fund&rsquo;s registration statement on Form&nbsp;N-2 (the &ldquo;Registration Statement&rdquo;) filed on March&nbsp;21, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For your convenience, the substance of those comments
has been restated below. The Fund&rsquo;s response to each comment is set out immediately under the comment. Capitalized terms used in
this letter and not otherwise defined herein shall have the meanings specified in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Comment
1</U></B></FONT><B>: </B>Please supplementally explain whether convertible bonds &ldquo;in the money&rdquo; and convertible bonds &ldquo;out
of the money&rdquo; count towards the Fund&rsquo;s policy to invest, under normal market conditions, at least 80% of the Fund&rsquo;s
total assets in equity securities of Indian Companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Response</U></B></FONT><B>:
</B>The Fund has revised the disclosure to exclude convertible bonds, including convertible bonds in the money and convertible bonds out
of the money, from counting towards the Fund&rsquo;s policy to invest, under normal market conditions, at least 80% of the Fund&rsquo;s
total assets in equity securities of Indian Companies. The Fund has revised the disclosure as follows (new language underlined; deleted
language struck through):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The investment objective of the Fund
is long-term capital appreciation, which it seeks to achieve by investing primarily in the equity securities of Indian companies. The
Fund&rsquo;s investment objective and its policy to invest, under normal market conditions, at least 80% of its total assets in equity
securities of Indian companies are fundamental policies of the Fund that may not be changed without the approval of a majority of the
Fund&rsquo;s outstanding voting securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Equity securities include common and
preferred stock (including convertible preferred stock), American, global or other types of depositary receipts, <B><STRIKE>convertible
bonds,</STRIKE></B> notes and debentures, equity interests in trusts, partnerships, joint ventures or similar enterprises and common stock
purchase warrants and rights. Most of the equity securities purchased by the Fund are expected to be traded on an Indian stock exchange
or in an Indian over-the-counter market. [. . .]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Up to 20% of the Fund&rsquo;s total
assets may be invested, subject to certain restrictions, in:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify">equity securities of companies (other than companies considered &ldquo;Indian companies&rdquo; under the
above criteria), regardless of where organized, which the Investment Manager believes derive, or will derive, at least 25% of their revenues
from business in or with India, or have at least 25% of their assets in India,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify">debt securities including high yield/high risk and unrated debt (commonly referred to as &ldquo;junk bonds&rdquo;),
denominated in Indian rupees or issued or guaranteed by an Indian company, the Government of India or an Indian governmental entity, <B><STRIKE>and</STRIKE></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify">debt securities of the type described under &ldquo;Temporary investments<B><STRIKE>.</STRIKE><U>,</U></B>&rdquo;
<B><U>and</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><B><U>convertible bonds.</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Comment
2</U></B></FONT><B>: </B>Please disclose how the Investment Manager defines each of the following factors: &ldquo;(1)&nbsp;durability
of the business model, (2)&nbsp;the attractiveness of the industry, (3)&nbsp;the strength of financials, (4)&nbsp;the capability of management,
and (5)&nbsp;the most material environmental, social and governance (&ldquo;ESG&rdquo;) factors impacting a company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Response</U></B></FONT><B>:</B>
The Fund believes that the current disclosure regarding the five enumerated factors, including the disclosed examples of ESG factors considered
by the Investment Manager, is clear, written in plain English and can be understood by the average investor without further elaboration.
Additionally, determining how each of the factors applies to a prospective investment is part of the Investment Manager&rsquo;s proprietary
investment process. Further, the Fund notes that identical disclosure appears in the disclosure documents of other open-end and closed-end
funds advised by the Investment Manager or an affiliate thereof. At this time, the Fund does not want to introduce an inconsistency in
this disclosure as compared to the disclosure for these other funds as such inconsistency could potentially be confusing to stockholders
and potential investors, given that the process the Investment Manager and affiliates thereof follow is the same for each such fund. However,
this comment will be considered further in connection with the next regular update to the registration statements and/or annual reports
of such funds, including the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Please contact the undersigned at 202-261-3386
should you have any questions regarding this matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 50%"></TD><TD STYLE="text-align: justify; width: 50%">Sincerely,</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">/s/ William J. Bielefeld</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: justify">William J. Bielefeld</TD>
</TR></TABLE>

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