Washington, D.C. 20549

(Exact name of registrant as specified in charter)

345 Park Avenue
New York, NY 10154(Address of principal executive offices) (Zip code)

Simpson Thacher & Bartlett LLP
425 Lexington Avenue
New York, NY 10017(Name and address of agent for service)

Registrant’s telephone number, including area code: 212-583-5344

Date of fiscal year end: December 31, 2007

Date of reporting period: March 31, 2007

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments.

The Schedule(s) of Investments is attached herewith.

 

 

THE INDIA FUND, INC.

MARCH 31, 2007 (UNAUDITED)

SCHEDULE OF INVESTMENTS

INDIA (100% OF HOLDINGS)

						PERCENT
NUMBER						OF
OF SHARES				SECURITY		HOLDINGS				COST				VALUE
COMMON STOCKS (97.96% of holdings)
				APPAREL MANUFACTURERS			0.40	%
	211,705			Crew B.O.S. Products, Ltd.						$	825,433			$	1,022,604
	250,064			Gokaldas Exports, Ltd.							1,728,681				1,328,132
	189,419			House of Pearl Fashion, Ltd.+							2,361,565				1,467,981
	350,000			Provogue (India) Ltd.							3,564,477				3,316,565
											8,480,156				7,135,282
				BEVERAGES — ALCOHOLIC			0.18	%
	169,726			United Spirits Ltd.							3,047,452				3,231,686
											3,047,452				3,231,686
				BEVERAGES-NON ALCOHOLIC			0.09	%
	1,151,250			McLeod Russel India, Ltd.+							3,183,309				1,609,075
											3,183,309				1,609,075
				BUILDING & CONSTRUCTION			1.64	%
	133,762			B.L. Kashyap and Sons, Ltd.							3,084,879				3,495,692
	676,365			C&C Constructions, Ltd+							4,000,008				2,408,398
	224,150			GMR Infrastructure, Ltd.+							2,088,344				1,857,560
	1,162,542			IVRCL Infrastructures and Projects, Ltd.							4,341,711				7,812,689
	701,813			KEC International, Ltd.							8,067,765				8,306,630
	763,800			Madhucon Projects, Ltd.							5,199,722				3,585,722
	484,350			Nagarjuna Construction Co., Ltd.							2,275,219				1,789,081
	11,821			Prajay Engineers Syndicate, Ltd.							67,185				59,764
											29,124,833				29,315,536
				BUILDING — RESIDENTIAL / COMMERCIAL			0.05	%
	151,709			D.S. Kulkarni Developers							1,322,121				962,470
											1,322,121				962,470
				CEMENT			2.11	%
	306,698			ACC, Ltd.							4,583,295				5,183,842
	658,389			Binani Industries, Ltd.							3,327,401				3,337,009
	467,244			Grasim Industries, Ltd.							17,094,982				22,480,709
	1,000,000			Sagar Cements Limited (Preferential shares)**							4,291,361				2,571,034
	233,150			UltraTech Cement, Ltd.							4,713,622				4,129,810
											34,010,661				37,702,404
				CHEMICALS			0.24	%
	570,550			United Phosphorus, Ltd.							4,085,295				4,260,255
											4,085,295				4,260,255
				COMPUTER HARDWARE			0.12	%
	307,950			Moser-Baer India, Ltd.							2,525,473				2,114,167
											2,525,473				2,114,167

THE INDIA FUND, INC.

MARCH 31, 2007 (UNAUDITED)

SCHEDULE OF INVESTMENTS (CONTINUED)

						PERCENT
NUMBER						OF
OF SHARES				SECURITY		HOLDINGS				COST				VALUE
COMMON STOCKS (continued)
				COMPUTER SERVICES			0.66	%
	1,181,600			NIIT Technologies, Ltd.						$	4,278,831			$	11,860,855
											4,278,831				11,860,855
				COMPUTER SOFTWARE & PROGRAMMING			15.16	%
	3,348,227			Infosys Technologies, Ltd.							56,707,344				155,036,044
	730,000			KPIT Cummins Infosystems, Ltd.							1,422,759				2,209,398
	4,476,738			Satyam Computer Services, Ltd.							33,067,109				48,418,602
	1,420,452			SSI, Ltd.+							3,333,311				5,959,264
	570,158			Tanla Solutions, Ltd.							4,262,480				4,556,411
	688,512			Tata Consultancy Services, Ltd.							19,073,149				19,502,956
	2,787,250			Wipro, Ltd.							24,611,012				35,804,924
											142,477,164				271,487,599
				CONSUMER NON-DURABLES			4.00	%
	7,408,402			Hindustan Lever, Ltd.							32,267,972				34,983,884
	10,605,775			ITC, Ltd.							26,021,157				36,698,690
											58,289,129				71,682,574
				DIAGNOSTIC EQUIPMENT			0.26	%
	1,476,275			Vimta Labs, Ltd.							6,129,421				4,617,499
											6,129,421				4,617,499
				DIVERSIFIED FINANCIAL SERVICES			1.27	%
	725,700			Indiabulls Financial Service, Ltd.							2,056,367				6,953,964
	6,290,530			Infrastructure Development Finance Co., Ltd.							10,357,999				12,113,594
	361,032			Power Finance Corporation+							694,512				865,098
	184,317			Reliance Capital, Ltd.							2,123,800				2,832,922
											15,232,678				22,765,578
				DIVERSIFIED INDUSTRIES			0.48	%
	70,450			Aban Offshore, Ltd.							3,111,250				3,271,188
	591,340			Elecon Engineering Co., Ltd.							3,006,581				5,305,258
	69,339			NEPC India, Ltd. GDR+							3,467				13,868
											6,121,298				8,590,314
				ELECTRONICS & ELECTRICAL EQUIPMENT			7.97	%
	83,949			ABB, Ltd.							1,438,932				6,858,459
	212,068			Bharat Electronics, Ltd.							5,482,192				7,323,457
	1,323,812			Bharat Heavy Electricals, Ltd.							14,358,274				68,855,585
	71,185			Easun Reyrolle Relays & Devices, Ltd.							979,112				1,055,123
	600,000			HBL Nife Power Systems, Ltd.							3,412,893				2,871,276
	260,000			HBL Nife Power Systems, Ltd. Common Shares							582,638				1,244,220
	957,585			Indo Tech Transformers, Ltd.							5,294,793				6,055,268
	3,116,174			Jyoti Structures, Ltd.							1,983,003				12,144,941
	3,566,335			Kei Industries Ltd.							5,246,922				5,517,912
	347,881			Reliance Energy, Ltd.							4,401,313				3,963,034
	608,684			Siemens India, Ltd.							7,166,101				15,273,466
	500,250			Suzlon Energy, Ltd.							11,952,296				11,531,703
											62,298,469				142,694,444

THE INDIA FUND, INC.

MARCH 31, 2007 (UNAUDITED)

SCHEDULE OF INVESTMENTS (CONTINUED)

						PERCENT
NUMBER						OF
OF SHARES				SECURITY		HOLDINGS				COST				VALUE
COMMON STOCKS (continued)
				ENGINEERING			2.01	%
	206,745			Gammon India, Ltd.						$	2,166,947			$	1,431,970
	800,247			Jaiprakash Associates, Ltd.							4,961,930				9,918,165
	2,010,790			Thermax, Ltd.							1,481,800				17,993,714
	3,450,316			Voltas, Ltd.							2,761,547				6,731,550
											11,372,224				36,075,399
				EXTRACTIVE INDUSTRIES			3.84	%
	3,403,087			Oil and Natural Gas Corp., Ltd.							44,892,687				68,754,640
											44,892,687				68,754,640
				FINANCE			13.10	%
	2,166,300			Allahabad Bank							3,658,396				3,623,375
	507,600			Bank of Baroda							2,969,207				2,515,519
	2,307,550			Bank of India							6,818,506				8,908,475
	1,023,200			Canara Bank, Ltd.							5,426,203				4,583,390
	992,513			HDFC Bank, Ltd.							12,377,220				21,679,324
	1,633,148			Housing Development Finance Corp., Ltd.							18,120,384				57,125,424
	3,741,691			ICICI Bank, Ltd.							31,999,466				73,439,241
	42,500			ICICI Bank, Ltd. Sponsored ADR							1,172,738				1,561,875
	972,831			Indian Bank+							2,003,350				2,018,851
	921,500			Oriental Bank of Commerce							4,122,303				3,976,241
	884,631			Punjab National Bank, Ltd.							9,661,534				9,599,361
	4,581,290			South Indian Bank, Ltd.							7,372,841				10,434,780
	742,750			State Bank of India							3,596,997				16,967,134
	45,550			State Bank of India GDR							525,435				2,855,985
	3,018,900			Syndicate Bank							5,247,147				4,441,704
	450,450			UTI Bank, Ltd.							3,326,841				5,079,675
	500,000			UTI Bank, Ltd. 144A GDR							2,955,000				5,750,000
											121,353,568				234,560,354
				FINANCIAL SERVICES			0.15	%
	331,766			Network 18 Fincap, Pvt, Ltd.							772,929				2,610,471
											772,929				2,610,471
				FOOD			0.36	%
	1,763,949			Lakshmi Energy & Foods, Ltd.							2,020,339				6,493,313
											2,020,339				6,493,313
				HOTELS & LEISURE			1.37	%
	6,367,985			Hotel Leelaventure, Ltd.							4,287,013				8,182,491
	4,900,130			Indian Hotels Co., Ltd.							13,184,790				16,392,014
											17,471,803				24,574,505
				MACHINERY — ELECTRIC UTILITY			0.05	%
	48,855			EMCO, Ltd.							755,191				899,319
											755,191				899,319
				MEDIA			1.02	%
	563,000			Deccan Chronicle Holdings, Ltd.							2,007,034				2,009,650
	868,416			Wire and Wireless India Ltd.+							2,001,403				1,776,192

THE INDIA FUND, INC.

MARCH 31, 2007 (UNAUDITED)

SCHEDULE OF INVESTMENTS (CONTINUED)

						PERCENT
NUMBER						OF
OF SHARES				SECURITY		HOLDINGS				COST				VALUE
COMMON STOCKS (continued)
				MEDIA (CONTINUED)
	2,522,448			Zee Telefilms, Ltd.						$	12,754,741			$	14,546,223
											16,763,178				18,332,065
				METAL — DIVERSIFIED			2.74	%
	2,041,555			Ahmednagar Forgings, Ltd.							7,833,473				11,129,563
	884,334			Hindustan Zinc, Ltd.							14,118,103				11,461,856
	2,460,603			Sterlite Industries India, Ltd.							17,418,053				26,505,333
											39,369,629				49,096,752
				PETROLEUM RELATED			8.86	%
	495,739			Indian Oil Corp., Ltd.							3,717,038				4,557,628
	4,893,143			Reliance Industries, Ltd.							57,719,496				154,044,225
											61,436,534				158,601,853
				PHARMACEUTICALS			3.70	%
	568,385			Aurobindo Pharma, Ltd.							7,783,868				8,881,138
	687,745			Dishman Pharmaceuticals & Chemicals, Ltd.							2,819,204				3,356,050
	1,608,786			Dr. Reddy’s Laboratories, Ltd.							23,994,333				26,927,225
	162,500			Dr. Reddy’s Laboratories, Ltd. ADR							2,600,000				2,674,750
	781,815			Lupin, Ltd.							8,686,477				10,893,966
	708,650			Panacea Biotec, Ltd.							5,599,215				6,774,280
	232,712			Sun Pharmaceutical Industries, Ltd.							2,502,015				5,668,825
	110,000			Wockhardt Limited							906,529				1,006,361
											54,891,641				66,182,595
				PUBLISHING			0.06	%
	600,000			Business India Publications							1,003,792				1,035,316
											1,003,792				1,035,316
				REAL ESTATE OPERATION / DEVELOPMENT			0.22	%
	583,500			Indiabulls Real Estate, Ltd.+							1,764,567				4,001,872
											1,764,567				4,001,872
				SHIPBUILDING			0.44	%
	978,500			Bharati Shipyard, Ltd.							3,611,068				7,907,469
											3,611,068				7,907,469
				STEEL			4.88	%
	1,035,414			Jindal Saw, Ltd.							8,170,658				12,043,105
	501,263			Jindal Steel & Power, Ltd.							12,915,173				27,349,481
	1,199,743			JSW Steel, Ltd.							7,423,070				13,620,457
	243,972			Shree Precoated Steels, Ltd.+							1,495,323				1,835,473
	5,744,626			Steel Authority of India, Ltd.							11,684,965				15,080,222
	3,492,667			Sujana Metals Products, Ltd.+							5,312,303				9,702,969
	751,591			Tata Steel, Ltd.							7,456,609				7,774,423
											54,458,101				87,406,130
				TELECOMMUNICATIONS			8.89	%
	5,867,510			Bharti Airtel, Ltd.+							36,036,260				103,027,347
	1,424,103			Idea Cellular Limited+							2,410,466				3,097,870

THE INDIA FUND, INC.

MARCH 31, 2007 (UNAUDITED)

SCHEDULE OF INVESTMENTS (CONTINUED)

						PERCENT
NUMBER						OF
OF SHARES				SECURITY		HOLDINGS				COST				VALUE
COMMON STOCKS (continued)
				TELECOMMUNICATIONS (CONTINUED)
	5,490,671			Reliance Communication, Ltd.+						$	34,991,252			$	53,056,064
	1			Shyam Telecom, Ltd.+							14				1
	8			Shyam Telelink, Ltd.+							0				0
											73,437,992				159,181,282
				TELEVISIONS			0.47	%
	1,247,979			Dish TV India, Ltd.+							0				2,052,927
	387,061			Television Eighteen India, Ltd.							1,987,532				5,439,244
	981,237			Zee News Ltd.							549,452				875,923
											2,536,984				8,368,094
				TEXTILES			0.42	%
	1,705,271			Bombay Rayon Fashions, Ltd.							7,758,278				6,277,312
	222,000			Eastern Silk Industries, Ltd.							1,436,579				1,230,921
											9,194,857				7,508,233
				TRANSPORTATION			0.62	%
	252,921			Container Corp. of India, Ltd.							9,911,468				11,105,481
											9,911,468				11,105,481
				VEHICLE COMPONENTS			3.15	%
	2,983,425			Amtek Auto, Ltd.							10,032,081				25,304,029
	662,864			ANG Exports, Ltd.							4,156,122				4,564,482
	846,300			Clutch Auto, Ltd.							2,707,121				2,101,877
	4,004,901			Cummins India, Ltd.							21,623,000				24,408,105
											38,518,324				56,378,493
				VEHICLES			6.98	%
	409,746			Bajaj Auto, Ltd.							18,843,087				22,864,798
	543,438			Hero Honda Motors, Ltd.							8,277,726				8,566,353
	1,920,184			Mahindra & Mahindra, Ltd.							18,458,360				34,465,237
	527,653			Maruti Udyog Ltd.							10,762,051				9,950,930
	2,934,147			Tata Motors, Ltd.							38,315,537				49,127,470
											94,656,761				124,974,788
				TOTAL COMMON STOCKS							1,040,799,927				1,754,078,162
WARRANTS (0.18% of holdings)
				BEVERAGES—NON ALCOHOLIC			0.18	%
	2,354,880			McLeod Russel Zero Point Warrants, 12/10/09							6,324,737				3,296,832
				TOTAL WARRANTS							6,324,737				3,296,832
SHORT -TERM INVESTMENTS (1.28% of holdings)
	1,400,000			Banking Index Benchmark Exchange Traded Scheme — Bank BeES							16,568,672				17,151,873
	10,000,000			Birla FTP — Quarterly-Series 8-Growth							2,248,960				2,316,323
	15,000,000			Standard Chartered Fixed Maturity Plan — Quarterly Series							3,371,165				3,466,341
				TOTAL SHORT-TERM INVESTMENTS							22,188,797				22,934,537

THE INDIA FUND, INC.

MARCH 31, 2007 (UNAUDITED)

SCHEDULE OF INVESTMENTS (CONTINUED)

						PERCENT
PAR						OF
VALUE (000)				SECURITY		HOLDINGS				COST				VALUE
BONDS (0.58% of holdings)
				FINANCE			0.58	%
INR	460,000			ICICI Bank Ltd. Bond Tier 1, 9.98%, 09/13/45						$	9,944,639			$	10,398,021
				TOTAL BONDS							9,944,639				10,398,021
				TOTAL INDIA							1,079,258,100				1,790,707,552
				TOTAL INVESTMENTS*			100.00	%		$	1,079,258,100			$	1,790,707,552

FOOTNOTES AND ABBREVIATIONS

144A — Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2007, these securities amounted to a value of $5,750,000.

ADR — American Depository Receipt
GDR — Global Depository Receipts

Excess of value over tax cost		$	874,748,983
			(5,236,751	)
Excess of tax cost over value		$	869,512,232

Item 2. Controls and Procedures.

	(a)		The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).
	(b)		There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date April 20, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Date April 20, 2007

Date April 20, 2007