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SIGNATURE JOANNE KILKEARY
TITLE ADMINISTRTOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 101,588,178
<INVESTMENTS-AT-VALUE> 142,375,472
<RECEIVABLES> 4,975,465
<ASSETS-OTHER> 107,605
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 147,458,542
<PAYABLE-FOR-SECURITIES> 2,494,840
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<OTHER-ITEMS-LIABILITIES> 11,721,729
<TOTAL-LIABILITIES> 14,216,569
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 115,184,558
<SHARES-COMMON-STOCK> 9,830,6119
<SHARES-COMMON-PRIOR> 9,830,611
<ACCUMULATED-NII-CURRENT> 2,244,10258
<OVERDISTRIBUTION-NII> 0,830,611
<ACCUMULATED-NET-GAINS> (17,922,823)
<OVERDISTRIBUTION-GAINS> 0,244,102
<ACCUM-APPREC-OR-DEPREC> 33,736,136
<NET-ASSETS> 133,241,973
<DIVIDEND-INCOME> 1,555,573
<INTEREST-INCOME> 146,566136
<OTHER-INCOME> 033,241,973
<EXPENSES-NET> 2,491,585
<NET-INVESTMENT-INCOME> (789,446)
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</TABLE>
Report of Independent Accountants
To the Shareholders and Board of Directors
of The India Growth Fund Inc.
In planning and performing our audit of the financial statements of The
India Growth Fund Inc. (the "Fund") for the year ended June 30, 1999,
we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures
for the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-SAR, not to provide
assurance on internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of controls. Generally, controls that are relevant to an
audit pertain to the entity's objective of preparing financial statements
for external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use or
disposition. Because of inherent limitations in internal control, errors
or fraud may occur and not be detected. Also, projection of any evaluation
of internal control to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness
of the design and operation may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the design or
operation of one or more of the internal control components does not reduce
to a relatively low level the risk that misstatements caused by error or
fraud in amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned
functions. However, we noted no matters involving internal control and
its operation, including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of June 30, 1999.
This report is intended solely for the information and use of management
and the Board of Directors of the Fund and the Securities and Exchange
Commission.
PricewaterhouseCoopers LLP
1177 Avenue of the Americas
New York, NY 10036
August 20, 1999
