PRESIDENT & FELLOWS OF HARVARD COLLEGE
SC 13G, 1999-08-16
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<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC  20549
                                  ___________

                                 SCHEDULE 13G
                                (RULE 13d-102)

            INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
         TO RULES 13D-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
                           PURSUANT TO RULE 13d-2(b)

                              (AMENDMENT NO. )/1/


                       Jardine Fleming India Fund, Inc.
       ----------------------------------------------------------------
                                (Name of Issuer)


                                 Common Stock
       ----------------------------------------------------------------
                        (Title of Class of Securities)


                                   471112102
       ----------------------------------------------------------------
                                (CUSIP Number)


                                 July 31, 1999
       ----------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)

     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

         [X] Rule 13d-1(b)
         [_] Rule 13d-1(c)
         [_] Rule 13d-1(d)

- --------------------
   /1/  The remainder of this cover page shall be filled out for a reporting
   person's initial filing on this form with respect to the subject class of
   securities, and for any subsequent amendment containing information which
   would alter disclosures provided in a prior cover page.

        The information required on the remainder of this cover page shall not
   be deemed to be "filed" for the purpose of Section 18 of the Securities
   Exchange Act of 1934 or otherwise subject to the liabilities of that section
   of the Act but shall be subject to all other provisions of the Act (however,
   see the Notes).
<PAGE>

                                     13G                       Page 2 of 4 Pages
================================================================================


  CUSIP NO. 471112102
            ---------


- ------------------------------------------------------------------------------
      NAMES OF REPORTING PERSON
 1    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      President and Fellows of Harvard College

- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [_]

- ------------------------------------------------------------------------------
      SEC USE ONLY
 3


- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4
      Massachusetts

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5
     NUMBER OF            1,345,300 shares

      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6
                          ----
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7
    REPORTING             1,345,300 shares

      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8
                          ----
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9
      1,345,300 shares
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
                                                                    [_]

- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
      11.9%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12
      EP

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

                                       2
<PAGE>

                                 SCHEDULE 13G
                                 ------------


Item 1(a)   Name of Issuer:
                  Jardine Fleming India Fund, Inc.

     1(b)   Address of Issuer's Principal Executive Offices:
              c/o Mitchell Hutchins Management Inc.
                  1285 Avenue of the Americas
                  New York, New York  10019

Item 2(a)   Name of Person Filing:
                  President and Fellows of Harvard College

     2(b)   Address of Principal Business Office or, if none, Residence:
              c/o Harvard Management Company, Inc.
                  600 Atlantic Avenue
                  Boston, MA  02210

     2(c)  Citizenship:
                  Massachusetts

     2(d)  Title of Class of Securities:
                  Common Stock

     2(e)  CUSIP Number:
                  471112102

Item 3     The reporting person is an employee benefit plan or endowment fund in
           accordance with Rule 13d-1(b)(1)(ii)(F).

Item 4     Ownership:

     4(a)  Amount beneficially owned:
                  1,345,300 shares

     4(b)  Percent of Class:
                  11.9%

     4(c)  Number of shares as to which such person has:

           (i) sole power to vote or to direct the vote:
                  1,345,300 shares

                                Page 3 of 4 Pages
<PAGE>

           (ii)  shared power to vote or to direct the vote:
                  _________

           (iii) sole power to dispose or to direct the disposition of:
                  1,345,300 shares

           (iv)  shared power to dispose or to direct the disposition of:
                  ________

Item 5     Ownership of Five Percent or Less of a Class:
                  Not Applicable.

Item 6     Ownership of More than Five Percent on Behalf of Another Person:
                  Not Applicable.

Item 7     Identification and Classification of the Subsidiary which Acquired
           the Security Being Reported on by the Parent Holding Company:
                  Not Applicable.

Item 8     Identification and Classification of Members of the Group:
                  Not Applicable.

Item 9     Notice of Dissolution of Group:
                  Not Applicable.

Item 10    Certification:

           By signing below the undersigned certifies that, to the best of its
           knowledge and belief, the securities referred to above were acquired
           and are held in the ordinary course of business and were not acquired
           and are not held for the purpose of or with the effect of changing or
           influencing the control of the issuer of the securities and were not
           acquired and are not held in connection with or as a participant in
           any transaction having that purpose or effect.

After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.

                              PRESIDENT AND FELLOWS OF HARVARD COLLEGE


                              By:  /s/ Judith A. Murphy
                                 ------------------------------------------
                                 Name:   Judith A. Murphy
                                 Title:  Authorized Signatory

August 16, 1999

                                Page 4 of 4 Pages


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