FORM 3 OMB APPROVAL
OMB NUMBER 3235-0104
Expires: December 31, 2001
Estimated Average burden
hours per response.....0.5
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
INITIAL STATEMENT OF BENEFICIAL
OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the
Investment Company act of 1940
1. Name and Address of Reporting Person*
Narayan Murthy
c/o Infosys Technology Limited
Hosur Road
3rd Cross, Electronic City
Bangalore-561 229, INDIA
2. Date of Event Requiring Statement (Month/Day/Year)
1/20/1999
3. IRS or Social Security Number of Reporting Person (Voluntary)
N/A
4. Issuer Name and Ticker or Trading Symbol
The India Growth Fund Inc.
5. Relationship of Reporting Person to Issuer (Check all applicable)
_X_ Director ____ 10% Owner
___ Officer (give title below) ____ Other (specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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TABLE I - NON DERIVATIVE SECURITIES BENEFICIALLY OWNED
1. Title of Security (Instr. 4)
No Securities Owned
2. Amount of Securities Beneficially Owned (Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)
4. Nature of Indirect Beneficial Ownership (Instr. 5)
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. *If the form is filed by more than one reporting
person, see Instruction 5(b)(v). Page 1 of 2
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
1. Title of Derivative Security (Instr. 4)
NONE
2. Date Exercisable and Expiration Date (Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security (Instr.4)
4. Conversion or Exercise Price of Derivative Security
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership (Instr. 5)
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Explanation of Responses:
/s/ Narayan Murthy 4/1/1999
______________________________ _________
** Signature of Reporting Persons Date
** Intentional misstatements or omission of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C.78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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