IGC Pharma (IGC) 10-Q 21 Nov 16 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Sep. 30, 2016	Nov. 08, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	India Globalization Capital, Inc.
Document Type	10-Q
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		28,378,887
Amendment Flag	false
Entity Central Index Key	1,326,205
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Current assets:
Cash and cash equivalents	$ 939,285	$ 1,490,693
Accounts receivable, net of allowances	653,959	962,658
Inventories	58,647	162,091
Prepaid expenses and other current assets	1,272,426	1,226,507
Total current assets	2,924,317	3,841,949
Goodwill	198,170	1,180,951
Intangible Assets	113,321	113,321
Property, plant and equipment, net	6,929,982	7,074,437
Investments in affiliates	2,603,411	609,148
Investments-others	5,230,264	5,175,392
Deferred Income taxes	356,619	356,684
Other non-current assets	504,065	507,300
Total long-term assets	15,935,832	15,017,233
Total assets	18,860,149	18,859,182
Current liabilities:
Short -term borrowings		27,762
Trade payables	456,783	330,631
Accrued expenses	90,045	300,111
Loans – others		189,680
Notes payable	1,800,000	1,800,000
Other current liabilities	517,253	550,877
Total current liabilities	2,864,081	3,199,061
Long - term borrowings	653,753	801,467
Loans – others	366,669
Other non-current liabilities	150,751	910,583
	1,171,173	1,712,050
Total liabilities	4,035,254	4,911,111
Stockholders’ equity:
Common stock — $.0001 par value; 150,000,000 shares authorized; 23,265,531 issued and outstanding as of March 31, 2016 and 23,957,827 issued and outstanding as of September 30, 2016.	2,396	2,327
Additional paid-in capital	67,820,860	65,885,243
Accumulated other comprehensive income (loss)	(2,307,769)	(2,269,357)
Retained earnings (Deficit)	(51,111,225)	(50,142,199)
Total equity attributable to Parent	14,404,262	13,476,014
Non-controlling interest	420,633	472,057
Total stockholders’ equity	14,824,895	13,948,071
Total liabilities and stockholders’ equity	$ 18,860,149	$ 18,859,182

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Sep. 30, 2016	Mar. 31, 2016
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	23,957,827	23,265,531
Common stock, shares outstanding	23,957,827	23,265,531

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues	$ 162,163	$ 2,055,585	$ 237,563	$ 3,914,394
Cost of revenues (excluding depreciation)	(90,534)	(1,889,598)	(154,589)	(3,544,367)
Selling, general and administrative expenses	(339,585)	(525,353)	(636,802)	(830,756)
Depreciation	(97,842)	(148,855)	(195,514)	(304,829)
Loss on investments / associates /joint ventures	(183,835)	0	(183,835)	0
Operating income (loss)	(549,633)	(508,221)	(933,177)	(765,558)
Interest expense	(51,410)	(67,460)	(89,956)	(128,682)
Interest income	114	0	114	2
Other income, net (loss)	11,985	(64,671)	13,740	(99,728)
Income before income taxes and minority interest attributable to non-controlling interest	(588,944)	(640,352)	(1,009,279)	(993,966)
Income taxes benefit/ (expense)	0	0	0	0
Net income/(loss)	(588,944)	(640,352)	(1,009,279)	(993,966)
Non-controlling interests in earnings of subsidiaries	(5,073)	(16,979)	(11,239)	12,106
Net income / (loss) attributable to common stockholders	$ (583,871)	$ (623,373)	$ (998,040)	$ (1,006,072)
Earnings/(loss) per share attributable to common stockholders:
Basic (in Dollars per share)	$ (0.02)	$ (0.04)	$ (0.04)	$ (0.07)
Diluted (in Dollars per share)	$ (0.02)	$ (0.04)	$ (0.04)	$ (0.07)
Weighted-average number of shares used in computing earnings per share amounts:
Basic (in Shares)	23,636,403	14,995,130	23,636,403	14,995,130
Diluted (in Shares)	23,636,403	14,995,130	23,636,403	14,995,130

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income / (loss)	$ (583,871)	$ (623,373)	$ (998,040)	$ (1,006,072)
Parent [Member]
Net income / (loss)	(583,871)	(623,373)	(998,040)	(1,006,072)
Foreign currency translation adjustments	8,775	(184,959)	38,412	(154,905)
Comprehensive income (loss)	(575,096)	(808,332)	(959,628)	(1,160,977)
Noncontrolling Interest [Member]
Net income / (loss)	(5,073)	(16,979)	(11,239)	12,106
Foreign currency translation adjustments	0	0	0	0
Comprehensive income (loss)	(5,073)	(16,979)	(11,239)	12,106
Comprehensive Income [Member]
Net income / (loss)	(588,944)	(640,352)	(1,009,279)	(993,966)
Foreign currency translation adjustments	8,775	(184,959)	38,412	(154,905)
Comprehensive income (loss)	$ (580,169)	$ (825,311)	$ (970,867)	$ (1,148,871)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ (1,009,279)	$ (993,966)
Adjustment to reconcile net income (loss) to net cash:
Deferred taxes	0	0
Depreciation	195,514	304,829
Write back of liability (non-cash)	0	0
Unrealized foreign exchange gain/loss	0	116,124
Loss from Investments /joint venture /associates	183,835	0
Non-cash interest expenses	71,315	87,726
ESOP and other stock related expenses	0	99,000
IR and other shares	0	184,000
Changes in:
Accounts receivable	(2,462)	(135,799)
Inventories	0	317,893
Prepaid expenses and other assets	(4,836)	297,446
Trade payables	200,688	207,141
Other current liabilities	(33,414)	(264,666)
Other non – current liabilities	(36,191)	13,250
Non-current assets	723	(1,379)
Accrued Expenses	(242,621)	(224,263)
Net cash provided/(used) in operating activities	(676,728)	7,336
Cash flow from investing activities:
Proceeds from non – current investment	(55,000)	0
Purchase of property and equipment	(4,504)	(806)
Capital work in progress	(95,843)	47,388
Non current assets	0	0
Net cash provided/(used) by investing activities	(155,347)	46,582
Cash flows from financing activities:
Issuance of equity stock	242,562	148,013
Net movement in short-term borrowings	0	(769,447)
Proceeds /(repayment) from long-term borrowing	140,933	(29,254)
Proceeds from loans	(64,250)	92,529
Proceeds from Notes payable	0	309,050
Net cash provided/(used) by financing activities	319,245	(249,109)
Effects of exchange rate changes on cash and cash equivalents	(38,578)	8,622
Net increase/(decrease) in cash and cash equivalents	(551,408)	(186,569)
Cash and cash equivalent at the beginning of the period	1,490,693	824,492
Cash and cash equivalent at the end of the period	939,285	637,923
Supplementary information:
Cash paid for interest	18,641	40,956
Cash paid for taxes	0	0
Non-cash items:
Common stock issued for interest payment on notes payable	71,315	61,776
Common stock issued including ESOP, Consultancy and IR	$ 0	$ 283,000

NOTE 1 - OVERVIEW

NOTE 1 - OVERVIEW	6 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Nature of Operations [Text Block]	NOTE 1 – OVERVIEW a) India Globalization Capital, Inc. (“IGC”) Through our research on phytocannabinoids, we develop intellectual property for the treatment of life altering or life threatening conditions; and for the purpose of leasing we build state-of-the-art farming facilities. In Malaysia we develop and manage residential and commercial real estate. In India and China we lease equipment, trade commodities and electronic components. Phytocannabinoid based therapies We have filed five provisional patents with the United States Patent and Trademark Office (“USPTO”), in the combination therapy space, for the indications of pain, medical refractory epilepsy, and cachexia as part of our intellectual property strategy focused on the phytocannabinoid based health care industry. There is no guarantee that filing a provisional or a non-provisional patent application will result in a successful registration with the USPTO. As we develop our intellectual property, and expertise, we intend to build leading edge facilities that we can use to grow, extract, and supply pharmaceutical grade phytocannabinoids, when and if federal laws become more favorable. The table below provides a status of our patent filings: Indication Provisional Filing PCT Filing Subsequent Activity Pain (Case 1) 9/16/14 9/16/15 US National Case Filed – 6/15/16 Seizures (Case 2) 6/15/15 6/14/16 US National Case Filed – 6/15/16 Seizures (Case 3) 4/1/15 4/1/16 PCT Application Published- 10/6/16 Eating Disorders (Case 4) 8/12/15 8/11/16 US and National Filing Anticipated 2/12/18 Seizures (Case 5) 6/15/16 Anticipated- 6/15/17 US and National Filing Anticipated 12/15/18 Cannabinoids are chemical compounds that exert a range of effects on the human body, including impacting the immune response, gastrointestinal maintenance and motility, muscle functioning, and nervous system response and functioning. Phytocannabinoids are cannabinoids that occur naturally in the cannabis plant, they are abundant in the viscous resin produced by glandular structures called trichomes. There are over 480 different compounds in the cannabis plant. Many of them have been identified as cannabinoids. Of these THC (delta-9-tetrahydrocannabinol) is the main psychoactive component (“high”) in the plant and is, broadly, pursued by the recreational users. The medical community, on the other hand broadly pursues many of the non-psychoactive phytocannabinoids, CBD (Cannabidiol) for example. The pain market represents a significant component of the healthcare system and The Journal of Pain in September 2012 reported that the annual estimated national cost of pain ranges from $560 billion to $635 billion. Additionally, The American Pain Society recommends that pain be made more visible and be categorized as the fifth vital sign Approximately 50 million people worldwide are affected by epilepsy (Sanders, 2003). Epilepsy is thought to be due to multiple factors that include sodium, potassium, GABA (gamma amino butyric acid) and NMDA (N-Methyl-d-aspartate). It is believed, for example, that to maximally control epilepsy, modulation of one or more of these receptors is required and that mono therapy is adequate in up to 25% of patients. The onset of epileptic seizures can be life threatening, including long-term implications (Lutz, 2004) such as mental health problems, cognitive deficits and morphological changes (Swann, 2004, Avoli et. al., 2005). The onset of epilepsy also greatly affects lifestyle as sufferers live in fear of consequential injury or the inability to perform daily tasks (Fisher et. al., 2000). The scientific community (1980 Cunha et. al., 1986 Ames, 1990 Trembly et. al. recent testing by GW Pharmaceuticals, among others) have shown that cannabidiol (CBD) has anti-convulsive properties in humans. Other studies, (Davis and Ramsey) have shown that tetrahydrocannabinol (THC) can also help reduce seizures. Two of our patent filings involving novel therapies use phytocannabinoid extracts from cannabis, in combination with other drugs, to treat medical refractory epilepsy in humans and seizures in dogs and cats. Cachexia is a condition that accompanies severe illness such as cancer and results in the weakness and wasting away of the body. Cachexia physically weakens patients to the extent that response to standard treatments is poor. In the U.S. it is estimated that a population of approximately 1.3 million are experiencing cachexia associated with cancer, multiple sclerosis, Parkinson’s disease, HIV/AIDS and other progressive illnesses. Cachexia is secondary to an underlying disease such as cancer or AIDS and is a positive risk factor for death. As an example, cancer induced anorexia cachexia is responsible for about 20% of all cancer deaths. Our patent filing involves a novel therapy that uses phytocannabinoids to stimulate senses (smell and taste) with a combination of drugs to stimulate appetite. Our approach addresses the veterinarian market as dogs and cats also suffer from pain, epilepsy and cachexia and getting a product to market for the veterinarian industry is significantly less time consuming than getting products approved for human healthcare. We expect to file more patents and continue to develop intellectual property in this industry. Real estate management and other businesses In Malaysia, our subsidiary Cabaran Ultima is the project manager of an estimated $262 million five-star hotel planned to be built on approximately 6 plus acres in Genting highlands. Genting is a hill resort one hour from Kuala Lumpur that boasts many attractions including a casino and is home to the 20 th In Hong Kong, through a majority owned subsidiary called Golden Gate that we renamed as IGC International, we operated an electronics business. Most of our revenue in fiscal 2016 and some of the revenue in the first quarter of fiscal 2017 come from that business. We had no revenue from Golden Gate for the quarter ended September 30, 2016. We have moved away from the electronics business as there is a macroeconomic slow-down in the electronics sector and without scale meaningfully competing is difficult. The Board decided against attempting scale and further investments. We have stopped taking orders, released most of the staff, closed the offices in Hong Kong and Shenzhen China, paid back the lines of credit with the Hong Kong banks, released IGC’s executive from the personal guarantee that he provided for the lines of credit, and liquidated the inventory. The purchase price of the acquisition consisted of up to 1,209,765 shares of our common stock, valued at approximately $1,052,496 on the closing date of the acquisition. The terms of the Acquisition Agreement called for the delivery of 205,671 shares of IGC common stock at the signing of the Agreement and the remaining 1,004,094 shares were contingent on the electronics business meeting annual thresholds for revenue and profit through fiscal year ending on March 31, 2017. The contingent shares will not be delivered as IGC International is unable to meet the targets. We are in negotiations for the return of all or some part of the initial 205,671 shares that were delivered to the principals of Golden Gate at the signing of the acquisition. We have no disputes with the initial principals of Golden Gate and the decision to curtail this business was mutual. Our short-term plans are to develop, test, and patent phytocannabinoid based pharmaceutical therapies, build leading edge facilities that can be used to grow and extract pharmaceutical grade phytocannabinoids, when federally legal, and develop the hotel complex in Genting Malaysia. Our long-term plan is to establish IGC as a leading provider of phytocannabinoid based pharmaceutical and nutraceutical products. Brief History IGC is a Maryland corporation formed in April 2005 for the purpose of acquiring one or more businesses with operations primarily in India through a merger, capital stock exchange, asset acquisition or other similar business combination. In March 2006, we completed an initial public offering of our common stock. In February 2007, we incorporated India Globalization Capital, Mauritius, Limited (“IGC-M”), a wholly-owned subsidiary, under the laws of Mauritius. In March 2008, we completed acquisitions of interests in two companies in India, Sricon Infrastructure Private Limited (“Sricon”) and Techni Bharathi Limited (“TBL”). Since March 31, 2013, we beneficially own 100% of TBL after completing the acquisition of the remaining 23.13% of TBL shares that were still owned by the founders of TBL. The 23.13% of TBL was acquired by IGC-MPL, which is a wholly-owned subsidiary of IGC-M. TBL shares are held by IGC-M. TBL is focused on the heavy equipment leasing business. In October 2014, pursuant to a Memorandum of Settlement with Sricon and related parties and in exchange for the 22% minority interest we had in Sricon, we received approximately five acres of prime land in Nagpur, India, valued around $5 million, based on various factors including real estate demand in India and exchange rate. The land is located a few miles from MIHAN, which is the largest development zone in terms of investment in India. The Company beneficially registered the land in its name on March 4, 2016. In February 2009, IGC-M beneficially purchased 100% of IGC Mining and Trading Private Limited (“IGC-IMT”) based in Chennai, India. IGC-IMT was formed in December 2008, as a privately held start-up company engaged in the business of trading iron ore. Its current activity is to trade iron ore. In July 2009, IGC-M beneficially purchased 100% of IGC Materials, Private Limited (“IGC-MPL”) based in Nagpur, India, which conducts our quarrying business, and 100% of IGC Logistics, Private Limited (“IGC-LPL”) based in Nagpur, India, which is involved in the transport and delivery of ore, cement, aggregate and other materials. Together, these companies carry out our iron ore trading business in India. In December 2011, we acquired a 95% equity interest in Linxi HeFei Economic and Trade Co., known as Linxi H&F Economic and Trade Co., a People’s Republic of China-based company (“PRC Ironman”), by acquiring 100% of the equity of H&F Ironman Limited, a Hong Kong company (“HK Ironman”). Together, PRC Ironman and HK Ironman are referred to as “Ironman.” In February 2015, IGC filed a lawsuit in the circuit court of Maryland against 24 defendants related to the acquisition of Ironman seeking to have the court order rescission of the underlying Acquisition Agreement and to void any past or future transfer of IGC shares to the defendants. It is anticipated that the lawsuit could go to trial in mid-2017. The assets of Ironman are currently shown on the balance sheet of IGC. We are also considering alternative strategies. Based on the outcome, the Ironman assets may be removed from the balance sheet of IGC reducing the total assets and additional paid in capital. Please see the risk factor on Ironman and the financial Note 3 on the accounting impact on IGC’s balance sheet on Form 10-K filed with the SEC on July 14, 2016. In May 2014, we completed the acquisition of 51% of the outstanding share capital of Golden Gate Electronics Limited, a corporation organized and existing under the laws of Hong Kong and now known as IGC International (“IGC-INT”). IGC-INT, headquartered in Hong Kong, operates an e-commerce platform for the trading of commodities and electronic components. The purchase price of the acquisition consisted of up to 1,209,765 shares of our common stock, valued at approximately $1,052,496 on the closing date of the acquisition. For the quarter ended September 30, 2016 we have no revenue from this business. In June 2014, we entered into an agreement with TerraSphere Systems LLC to develop multiple facilities to produce organic leafy green vegetables utilizing TerraSphere’s advanced pesticide-free organic indoor farming technology. Under the agreement, we will own 51% of each venture once production is operational, and will have a right of first refusal to participate in all future build-outs. Additionally, in consideration for our issuance of 50,000 shares of common stock, we received a seven-year option to purchase TerraSphere Systems for cash or additional shares of our common stock. We are negotiating a conversion of the investment into shares of a Canadian public vehicle that TerraSphere expects to merge into. In December 2014, we entered into a Purchase Agreement with Apogee Financial Investments, Inc. (“Apogee”), the previous sole owner of the outstanding membership interests of Midtown Partners & Co., LLC, a Florida limited liability company registered as a broker-dealer under the Securities Exchange Act of 1934 (“Midtown Partners”), to acquire 24.9% of the outstanding membership interests in Midtown Partners. In consideration of the initial membership interests, we issued to Apogee 1,200,000 shares of our common stock. As a result of Apogee’s inability to obtain requisite approvals to sell us their remaining interest in Midtown Partners, we will remain a 24.9% owner in Midtown Partners for the foreseeable future. We are not seeking to consummate the acquisition of the remaining interest in Midtown Partners at this time. In February 2016, we completed the acquisition of 100% of the outstanding share capital of Cabaran Ultima Sdn. Bhd., a corporation organized and existing under the laws of Malaysia (“Ultima”), from RGF Land Sdn. Bhd. (“Land”), the sole shareholder of Ultima, pursuant to the terms of a Share Purchase Agreement among the parties. Ultima holds 51% of RGF Cabaran Sdn. Bhd., which holds 75% of RGF Construction Sdn. Bhd. The purchase price of the acquisition consists of up to 998,571 shares of our common stock, valued at approximately $169,758 on the closing date of the Share Purchase Agreement. Ultima and its management’s expertise include the following: (i) building agro-infrastructure for growing medicinal plants and botanical extraction, and (ii) construction of high-end luxury complexes such as service apartments, luxury condominiums and hotels. In August 2016, we subscribed to 10% of Brilliant Hallmark, Sdn. Bhd. a corporation organized and existing under the laws of Malaysia (“Brilliant”). We paid 4,000,000 shares of common stock with a Fair Market Value of $1,880,000 for the 10% stake in Brilliant that holds the exclusive rights to build a hotel and develop the property in Genting Malaysia. IGC has recourse to the land assets in the event of non-performance through a separate Tag Along Agreement dated August 1, 2016 between IGC on the one hand and RGF Land Sdn. Bhd., the shareholders of RGF Land Sdn. Bhd., and Brilliant on the other hand. b) List of subsidiaries with percentage holding The operations of IGC are based in Malaysia, India, Hong Kong, China and the United States. The financial statements of the following subsidiaries have been considered for consolidation. Subsidiaries Immediate holding company Country of Incorporation Percentage of holding as of September 30, 2016 Percentage of holding as of March 31, 2016 H&F Ironman Limited (“HK Ironman”) (1) IGC Hong Kong 100 100 Linxi H&F Economic and Trade Co. (“PRC Ironman”) (3) HK Ironman Peoples’ Republic of China 95 95 IGC – Mauritius (“IGC-M”) (1) IGC Mauritius 100 100 Techni Bharathi Private Limited (“TBL”) (2) IGC-M India 100 100 India Mining and Trading Private Limited (“IGC-IMT”) (2) IGC-M India 100 100 IGC Materials Private Limited (“IGC-MPL”) IGC-M India 100 100 IGC Logistic Private Limited (“IGC-LPL”) (2) IGC-M India 100 100 Cabaran Ultima Sdn. Bhd., (“Ultima”) (4) IGC Malaysia 100 100 (1) Wholly-owned by India Globalization Capital, Inc. (2) Wholly-owned by India Globalization Capital, Mauritius, Limited. (3) 95% owned by HK Ironman, which is India Globalization Capital, Inc.’s wholly-owned subsidiary. (4) 100% owned by India Globalization Capital, Inc. Unless the context requires otherwise, all references in this report to “IGC,” “we,” “our” and “us” refer to India Globalization Capital, Inc., together with the subsidiaries listed above. We exclude our investments and minority non-controlling interests, and any information provided by them is not incorporated by reference in this report, and you should not consider it a part of this report. Our principal executive offices are located at 4336 Montgomery Avenue, Bethesda, Maryland 20814, and our telephone number is (301) 983-0998. We maintain a website at http://www.igcinc.us. The information contained on our website is not incorporated by reference in this report, and you should not consider it a part of this report.

NOTE 2 - SIGNIFICANT ACCOUNTING

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES a) Basis of preparation of financial statements The Company has prepared the accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles (“GAAP”) for complete financial statements. Therefore, the Financial Statements should be read in conjunction with the audited Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2016 filed with the SEC on July 14, 2016. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The results for interim periods do not necessarily indicate the results that may be expected for any other interim period or for the full year. The significant accounting policies adopted by the Company, in respect of these consolidated financial statements, are set out below. The Company’s current fiscal year ends on March 31, 2017. b) Principles of consolidation The consolidated financial statements include the accounts of the Company and all of its subsidiaries that are more than 50% owned and controlled. The financial statements of the parent company and its majority owned or controlled subsidiaries have been combined on a line by line basis by adding together the book values of all items of assets, liabilities, incomes and expenses after eliminating all inter-company balances and transactions and resulting unrealized gain or loss. Operating results of companies acquired are included from the dates of acquisition. c) Non-controlling interests Non-controlling interests in the Company’s consolidated financial statements result from the accounting for non-controlling interests in its subsidiaries. Non-controlling interests represent the subsidiaries’ earnings and components of other comprehensive income that are attributed to the non-controlling parties’ equity interests. The Company consolidates the subsidiaries into its consolidated financial statements. Transactions between the Company and its subsidiaries have been eliminated in the consolidated financial statements. The Company accounts for investments by the equity method where its investment in the voting stock gives it the ability to exercise significant influence over the investee but not control. In situations, such as the Company’s ownership interest in Sricon Infrastructure Private Limited (“Sricon”) and Midtown Partners & Co., LLC (“MTP”), wherein the Company is not able to exercise significant influence in spite of having 20% or more ownership, the Company has accounted for the investment based on the cost method. In addition, the Company consolidates any Variable Interest Entity (“VIE”) if it is determined to be the primary beneficiary. However, as of September 30, 2016, the Company does not have any interest in any VIE investment. The non-controlling interest disclosed in the accompanying financial statements for the second quarter of fiscal year 2017 represent the non-controlling interest in IGC International, Linxi H&F Economic and Trade Co. (PRC Ironman) and Cabaran Ultima’s subsidiaries and the profits or losses associated with the non-controlling interest in those operations. The adoption of Accounting Standards Codification (ASC) 810-10-65 “Consolidation — Transition and Open Effective Date Information” (previously referred to as SFAS No. 160, “Non-controlling Interests in Consolidated Financial Statements, an amendment of ARB No. 51”), has resulted in the reclassification of amounts previously attributable to minority interest (now referred to as non-controlling interest) to a separate component of shareholders’ equity on the accompanying consolidated balance sheets and consolidated statements of shareholders’ equity and comprehensive income (loss). Additionally, net income attributable to non-controlling interest is shown separately from net income in the consolidated statements of income. This reclassification had no effect on our previously reported financial position or results of operations. d) Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Management believes that the estimates and assumptions used in the preparation of the consolidated financial statements are prudent and reasonable. Significant estimates and assumptions are used for, but not limited to: allowance for uncollectible accounts receivable; future obligations under employee benefit plans; the useful lives of property, plant, equipment; intangible assets; the valuation of assets and liabilities acquired in a business combination; impairment of goodwill and investments; recoverability of advances; the valuation of options granted and warrants issued; and income tax and deferred tax valuation allowances. Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Critical accounting estimates could change from period to period and could have a material impact on IGC’s results, operations, financial position and cash flows. Changes in estimates are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the consolidated financial statements. e) Foreign currency transactions IGC operates in India, Hong Kong, China and Malaysia and a substantial portion of the Company’s sales are denominated in INR, HKD, RMB and RM, as of those respective operations. As a result, changes in the relative values of the U.S. dollar and INR, HKD, RMB or the RM affect revenues and profits as the results are translated into U.S. dollars in the consolidated and pro forma financial statements. The accompanying financial statements are reported in U.S. dollars. The INR, HKD, RMB and the RM are the functional currencies for the Company. The translation of the functional currencies into U.S. dollars is performed for assets and liabilities using the exchange rates in effect at the balance sheet date and for revenues, costs and expenses using average exchange rates prevailing during the reporting periods. Adjustments resulting from the translation of functional currency financial statements to reporting currency are accumulated and reported as other comprehensive income/(loss), a separate component of shareholders’ equity. The exchange rates used for translation purposes are as follows: Period End Average Rate Period End Rate Period (P&L rate) (Balance sheet rate) Three months ended September 30, 2015 INR 65.15 per USD INR 65.50 per USD RMB 6.29 per USD RMB 6.36 per USD HKD 7.78 per USD HKD 7.75 per USD Year ended March 31, 2016 INR 65.39 per USD INR 66.25 per USD RMB 6.32 per USD RMB 6.44 per USD HKD 7.76 per USD HKD 7.76 per USD RM 4.11 per USD RM 3.90 per USD Three months ended September 30, 2016 INR 66.37 per USD INR 66.58 per USD RMB 6.66 per USD RMB 6.67 per USD HKD 7.76 per USD HKD 7.76 per USD RM 3.99 per USD RM 4.13 per USD f) Revenue recognition The majority of the revenue recognized for the quarterly periods ended September 30, 2016 and 2015 was derived from the Company’s subsidiaries, when all of the following criteria have been satisfied: Revenue is recognized when persuasive evidence of an arrangement exists, the sales price is fixed or determinable and collectability is reasonably assured. Revenue from sale of goods is recognized when substantial risks and rewards of ownership are transferred to the buyer under the terms of the contract. For the sale of goods, the timing of the transfer of substantial risks and rewards of ownership is based on the contract terms negotiated with the buyer, e.g., FOB or CIF. We consider the guidance provided under Staff Accounting Bulletin (“SAB”) 104 in determining revenue from sales of goods. Considerations have been given to all four conditions for revenue recognition under that guidance. The four conditions are: · Contract – Persuasive evidence of our arrangement with the customers; · Delivery – Based on the terms of the contracts, the Company assesses whether the underlying goods have been delivered and therefore the risks and rewards of ownership are completely transferred; · Fixed or determinable price – The Company enters into contracts where the price for the goods being sold is fixed and not contingent upon other factors. · Collection is deemed probable – At the time of recognition of revenue, the Company makes an assessment of its ability to collect the receivable arising on the sale of the goods and determines that collection is probable. Revenue for any sale is recognized only if all of the four conditions set forth above are met. The Company assesses these criteria at the time of each sale. In the absence of meeting any of the criteria set out above, the Company defers revenue recognition until all of the four conditions are met. Revenue from construction/project related activity and contracts for supply/commissioning of complex plant and equipment is recognized as follows: (a) Cost plus contracts: Contract revenue is determined by adding the aggregate cost plus proportionate margin as agreed with the customer and expected to be realized. (b) Fixed price contracts: Contract revenue is recognized using the percentage completion method and the percentage of completion is determined as a proportion of cost incurred-to-date to the total estimated contract cost. Changes in estimates for revenues, costs to complete, and profit margins are recognized in the period in which they are reasonably determinable. · In many of the fixed price contracts entered into by the Company, significant expenses are incurred in the mobilization stage in the early stages of the contract. The expenses include those that are incurred in the transportation of machinery, erection of heavy machinery, clearing of the campsite, workshop ground cost, overheads, etc. All such costs are booked to deferred expenses and written off over the period in proportion to revenues earned. · Where the modifications of the original contract are such that they effectively add to the existing scope of the contract, the same are treated as a change orders. On the other hand, where the modifications are such that they change or add an altogether new scope, these are accounted for as a separate new contract. The Company adjusts contract revenue and costs in connection with change orders only when both, the customer and the Company with respect to both the scope and invoicing and payment terms, approve them. · In the event of claims in our percentage of completion contracts, the additional contract revenue relating to claims is only accounted after the proper award of the claim by the competent authority. The contract claims are considered in the percentage of completion only after the proper award of the claim by the competent authority. Full provision is made for any loss in the period in which it is foreseen. Revenue from service related activities and miscellaneous other contracts are recognized when the service is rendered using the proportionate completion method or completed service contract method. g) Accounts receivable Accounts receivable from customers in the electronics business are recorded at the invoiced amount, taking into consideration any adjustments made for returns. Also, the Company evaluates the collectability of selected accounts receivable on a case-by-case basis and makes adjustments to the bad debt reserve for expected losses. For all other accounts, the Company estimates reserves for bad debts based on general aging, experience and past-due status of the accounts. When applicable, the Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of clients to make required payments. The allowance for doubtful accounts is determined by evaluating the relative credit worthiness of each client, historical collections experience and other information, including the aging of the receivables. If circumstances related to customers change, estimates of recoverability would be further adjusted. Regarding our collection policy on electronics trading receivables, there are three types of trades: (1) payment guaranteed through letters of credit, (2) deposit or spot payment on delivery or (3) delivery on credit. With the first type of trade: our policy for collection is to ask the customer to open a letter of credit with a bank. The typical terms of the letter of credit are that 100% of the payment is made when the material is shipped. With the second type of trade, customers pay on delivery. On the third type of trade, our policy is to allow the customer to have a payment credit term of 90 days. h) Inventories We provide for inventory obsolescence, excess inventory and inventories with carrying values in excess of market values based on our assessment of the future demands, market conditions and our specific inventory management procedures. If market conditions and actual demands are less favorable than our estimates, additional inventory write-downs may be required. In all cases, inventory is carried at the lower of historical cost or market value. i) Investments Investments are initially measured at cost, which is the fair value of the consideration given for them, including transaction costs. The Company’s equity in the earnings/(losses) of affiliates is included in the statement of income and the Company’s share of net assets of affiliates is included in the balance sheet. Where the Company’s ownership interest in spite of being in excess of 20% is not sufficient to exercise significant influence, the Company has accounted for the investment based on the cost method, as is the case of Midtown Partners & Co., LLC (“MTP”). j) Property, Plant and Equipment (PP&E) Property and equipment are recorded at cost net of accumulated depreciation and depreciated over their estimated useful lives using the straight-line method. The estimated useful lives of assets are as follows: Buildings 5-25 years Plant and machinery 10-20 years Computer equipment 3-5 years Office equipment 3-5 years Furniture and fixtures 5-10 years Vehicles 5-10 years Upon retirement or disposition, cost and related accumulated depreciation of the property and equipment are de-recognized from the books of accounts and the gain or loss is reflected in the results of operation. Cost of additions and substantial improvements to property and equipment are capitalized in the books of accounts. The cost of maintenance and repairs of the property and equipment are charged to operating expenses as incurred. k) Impairment of long – lived assets The Company reviews its long-lived assets, with finite lives, for impairment whenever events or changes in business circumstances indicate that the carrying amount of assets may not be fully recoverable. Such circumstances include, though are not limited to, significant or sustained declines in revenues or earnings, future anticipated cash flows, business plans and material adverse changes in the economic climate, such as changes in operating environment, competitive information and impact of changes in government policies. For assets that the Company intends to hold for use, if the total of the expected future undiscounted cash flows produced by the assets or subsidiary company is less than the carrying amount of the assets, a loss is recognized for the difference between the fair value and carrying value of the assets. For assets the Company intends to dispose of by sale, a loss is recognized for the amount by which the estimated fair value less cost to sell is less than the carrying value of the assets. Fair value is determined based on quoted market prices, if available, or other valuation techniques including discounted future net cash flows. l) Earnings per common share Basic earnings per share is computed by dividing net income/(loss) applicable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the additional dilution from all potentially dilutive securities such as stock warrants and options. m) Income taxes The Company accounts for income taxes under the asset and liability method, in accordance with ASC 740, Income Taxes, which requires an entity to recognize deferred tax liabilities and assets. Deferred tax assets and liabilities are recognized for the future tax consequence attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the enacted tax rate expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. A valuation allowance is established and recorded when management determines that some or all of the deferred tax assets are not likely to be realized and therefore, it is necessary to reduce deferred tax assets to the amount expected to be realized. In evaluating a tax position for recognition, management evaluates whether it is more-likely-than-not that a position will be sustained upon examination, including resolution of related appeals or litigation processes, based on technical merits of the position. If the tax position meets the more-likely-than-not recognition threshold, the tax position is measured and recognized in the Company’s financial statements as the largest amount of tax benefit that, in management’s judgment, is greater than 50% likely of being realized upon settlement. As of September 30, 2016 and 2015, there was no significant liability for income tax associated with unrecognized tax benefits. The issuance by IGC of its common stock to (1) HK Ironman stockholders in exchange for HK Ironman stock; to (2) Golden Gate Electronics Ltd (“GG”) in exchange for GG stock; to (3) Apogee Financial in exchange for a membership interest in Midtown Partners, LLC; to (4) Cabaran Ultima (“Ultima”) in exchange for Ultima’s stock; and to (5) Brilliant in exchange for Brilliant’s stock as contemplated by the respective stock purchase agreements between the Company and HK Ironman, PRC Ironman and their stockholders; between the Company and Golden Gate Electronics Ltd and its stockholders; between the Company and Apogee Financial and their stockholders; between the Company and Cabaran Ultima and its stockholders; and between the Company and Brilliant generally will not be taxable transactions to U.S. holders for U.S. federal income tax purposes. It is expected that IGC and its stockholders will not recognize any gain or loss because of the approval of the shares for U.S. federal income tax purposes. n) Cash and cash equivalents For financial statement purposes, the Company considers all highly liquid debt instruments with maturity of three months or less, to be cash equivalents. The Company maintains its cash in bank accounts in the United States of America, Mauritius, India, Hong Kong, and Malaysia, which at times may exceed applicable insurance limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalent. The Company does not invest its cash in securities that have an exposure to U.S. mortgages. o) Restricted cash Restricted cash consists of deposits pledged to various government authorities and deposits used as collateral with banks for guarantees and letters of credit, given by the Company to its customers or vendors. p) Fair value of financial instruments As of September 30, 2016 and March 31, 2016, the carrying amounts of the Company’s financial instruments, which included cash and cash equivalents, accounts receivable, unbilled accounts receivable, restricted cash, accounts payable, accrued employee compensation and benefits and other accrued expenses, approximate their fair values due to the nature of the items. q) Concentration of credit risk and significant customers Financial instruments, which potentially expose the Company to concentrations of credit risk, are primarily comprised of cash and cash equivalents, investments, derivatives, accounts receivable and unbilled accounts receivable. The Company places its cash, investments and derivatives in highly rated financial institutions. The Company adheres to a formal investment policy with the primary objective of preservation of principal, which contains credit rating minimums and diversification requirements. Management believes its credit policies reflect normal industry terms and business risk. The Company does not anticipate non-performance by the counterparties and, accordingly, does not require collateral. During this quarter, sales were spread across many customers in India and one customer in Malaysia, and the credit concentration risk is low. r) Left intentionally blank. s) Business combination In accordance with ASC Topic 805, Business Combinations, the Company uses the purchase method of accounting for all business combinations consummated after June 30, 2001. Intangible assets acquired in a business combination are recognized and reported apart from goodwill if they meet the criteria specified in ASC Topic 805. Any purchase price allocated to an assembled workforce is not accounted separately. t) Employee benefits plan In accordance with applicable Indian laws, the Company provides for gratuity, a defined benefit retirement plan (Gratuity Plan) covering certain categories of employees. The Gratuity Plan provides a lump sum payment to vested employees, at retirement or termination of employment, an amount based on the respective employee’s last drawn salary and the years of employment with the Company. In addition, all employees receive benefits from a provident fund, a defined contribution plan. The employee and employer each make monthly contributions to the plan equal to 12% of the covered employee’s salary. The contribution is made to the Government’s provident fund. At this time, the Company does not participate in a multi-employer defined contribution plan in China to provide employees with certain retirement, medical and other fringe benefits because most of the Company’s workers are contractors employed through agencies or other companies. In the United States, we provide health insurance, life insurance, and 401 K benefits. The Company makes a 401-K matching contribution up to 6% of the employee’s annual salary. u) Commitments and contingencies Liabilities for loss contingencies arising from claims, assessments, litigations, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. v) Accounting for goodwill and related impairment Goodwill represents the excess cost of an acquisition over the fair value of our share of net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on acquisition of subsidiaries is disclosed separately. Goodwill is stated at cost less impairment losses incurred, if any. The Company adopted the provisions of ASC 350, “Intangibles – Goodwill and Others” (previously referred to as SFAS No. 142, “Goodwill and Other Intangible Assets,” which sets forth the accounting for goodwill and intangible assets subsequent to their acquisition. ASC 350 requires that goodwill and indefinite-lived intangible assets be allocated to the reporting unit level, which the Company defines as each subsidiary. ASC 350 also prohibits the amortization of goodwill and indefinite-lived intangible assets upon adoption, but requires that they be tested for impairment at least annually, or more frequently as warranted, at the reporting unit level. Pursuant to ASC 350-20-35-4 through 35-19, the impairment testing of goodwill is a two-step process. The first step of the goodwill impairment test, used to identify potential impairment, compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired, thus the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test shall be performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test, used to measure the amount of impairment loss, compares the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. If the carrying amount of reporting unit goodwill exceeds the implied fair value of that goodwill, an impairment loss shall be recognized in an amount equal to that excess. The loss recognized cannot exceed the carrying amount of goodwill. After a goodwill impairment loss is recognized, the adjusted carrying amount of goodwill shall be its new accounting basis. Subsequent reversal of a previously recognized goodwill impairment loss is prohibited once the measurement of that loss is completed. In ASC 350.20.20, a reporting unit is defined as an operating segment or one level below the operating segment. A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component. The Company has determined that it operates in a single operating segment. While the Company’s Chief Executive Officer reviews the consolidated financial information for the purposes of decisions relating to resource allocation, the Company’s Chief Financial Officer, on an as-need basis, looks at the financial statements of the individual legal entities in India for the limited purpose of consolidation. Given the existence of discrete financial statements at an individual entity level in India, the Company believes that each of these entities constitute a separate reporting unit under a single operating segment. Therefore, the first step in the impairment testing for goodwill is the identification of reporting units and the allocation of goodwill to these reporting units. Accordingly, IGC International and Cabaran Ultima, which are two of the legal entities in Hong Kong and in Malaysia, respectively, are also considered separate reporting units and therefore the Company believes that the assessment of goodwill impairment at the subsidiaries level, which are also a reporting unit each, is appropriate. The analysis of fair value is based on the estimate of the recoverable value of the underlying assets. For long-lived assets such as land, the Company obtains appraisals from independent professional appraisers to determine the recoverable value. For other assets such as receivables, the recoverable value is determined based on an assessment of the collectability and any potential losses due to default by the counter parties. Unlike goodwill, long-lived assets are assessed for impairment only where there are any specific indicators for impairment. w) Reclassifications No reclassifications have been made for this first quarter of fiscal year ending March 31, 2017. In the last quarter of fiscal year ending March 31, 2016, we reclassified the Investment in Affiliates (22% minority interest investment we had in Sricon) to Investment Others (five acres of prime land in Nagpur, India) as the company has returned the shares after transfer of land in its name as per the settlement agreement. The land, valued at approximately $5 million, based on various factors including the exchange rate, is located a few miles from MIHAN, which is the largest development zone in terms of investment in India. The Company beneficially registered the land in its name on March 4, 2016. x) Recently issued and adopted accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Newly issued ASUs not listed below are expected to have no impact on the Company’s consolidated financial position and results of operations, because either the ASU is not applicable or the impact is expected to be immaterial. Recognition and Measurement of Financial Assets and Financial Liabilities: Disclosures for Investments in Certain Entities That Calculate Net Asset Value (NAV) per Share Debt Issuance Costs Consolidation Consolidation (Topic 810): Amendments to the Consolidation Analysis Revenue from Contracts with Customers Discontinued Operations and Significant Disposals

NOTE 3 - ACCOUNTS RECEIVABLE

NOTE 3 - ACCOUNTS RECEIVABLE	6 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	NOTE 3 – ACCOUNTS RECEIVABLE Accounts receivable, net of allowances, amounted to $0.65 million and $0.96 million, as of September 30, 2016 and March 31, 2016, respectively. The accounts receivable net of reserves for the quarter ended September 30, 2016 comes primarily from the construction and rental of heavy construction equipment. The Company maintains an allowance for doubtful accounts based on present and prospective financial condition of the customer and their inherent credit risk.

NOTE 4 - OTHER CURRENT AND NON-

NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS	6 Months Ended
	Sep. 30, 2016
Disclosure Text Block Supplement [Abstract]
Other Assets Disclosure [Text Block]	NOTE 4 – OTHER CURRENT AND NON-CURRENT ASSETS Prepaid expenses and other current assets consist of the following: As of September 30, 2016 As of March 31, 2016 Advance to suppliers & services 372,081 315,659 Security/statutory advances 13,512 14,399 Advances to employees 868,517 878,042 Prepaid /accrued interest 1,234 1,239 Deposit and other current assets 17,082 17,168 Total $ 1,272,426 $ 1,226,507 * The increase in Advance to suppliers & services comes from our subsidiary in Malaysia. Advances to Employees represent advances made to employees of Ironman by Ironman, prior to its acquisition by IGC. Other non-current assets consist of the following: As of September 30, 2016 As of March 31, 2016 Statutory/Other advances $ 504,065 $ 507,300 Total $ 504,065 $ 507,300

NOTE 5 - INTANGIBLE ASSETS AND

NOTE 5 - INTANGIBLE ASSETS AND GOODWILL	6 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 5 – INTANGIBLE ASSETS AND GOODWILL The movement in intangible assets and goodwill is given below. As of September 30, 2016 As of March 31, 2016 Intangible assets at the beginning of the period $ 113,321 $ 306,131 Amortization - (158,780 ) Effect of foreign exchange translation - (34,030 ) Total Intangible assets $ 113,321 $ 113,321 Goodwill of IGC International Ltd 0 982,782 Goodwill of Cabaran Ultima SDN BHD 198,170 198,169 Total Goodwill $ 198,170 $ 1,180,951 The value of intangible assets, associated with the acquisition of Ironman, as of September 30, 2016 and March 31, 2016 amounted to $113,321. In this quarter the goodwill associated with IGC International Ltd was impaired.

NOTE 6 - PROPERTY, PLANT AND EQ

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	NOTE 6 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: Category Useful Life (years) As of September 30, 2016 As of March 31, 2016 Building (flat) 25 $ 1,237,398 $ 1,238,569 Plant and machinery 20 6,658,105 6,666,402 Computer equipment 3 149,963 218,124 Office equipment 5 114,038 114,508 Furniture and fixtures 5 97,371 118,753 Vehicles 5 318,507 345,830 Assets under construction N/A 4,945,773 4,885,844 Total $ 13,521,155 $ 13,588,030 Less: Accumulated depreciation $ (6,591,173 ) $ (6,513,593 ) Net Assets $ 6,929,982 $ 7,074,437 Depreciation and amortization expense for the period ended September 30, 2016 and 2015 was $195,514 and $304,829 respectively. Capital work-in-progress represents advances paid towards the acquisition of property and equipment and the cost of property and equipment not put to use before the balance sheet date.

NOTE 7 - INVESTMENTS - OTHERS

NOTE 7 - INVESTMENTS - OTHERS	6 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 7 – INVESTMENTS – OTHERS Investments – others for each of the periods ended September 30, 2016 and March 31, 2016 consisted of the following: As of September 30, 2016 As of March 31, 2016 Investment in equity shares of an unlisted company $ 25,653 $ 25,781 Investment in Land 5,204,611 5,149,611 Total $ 5,230,264 $ 5,175,392

NOTE 8 - SHORT-TERM BORROWINGS

NOTE 8 - SHORT-TERM BORROWINGS AND ADVANCE FROM CUSTOMERS	6 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Short-term Debt [Text Block]	NOTE 8 – SHORT-TERM BORROWINGS The Company had no short-term borrowings during the quarter ended September 30, 2016 and $27,762 as of March 31, 2016.

NOTE 9 - OTHER CURRENT AND NON-

NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES	6 Months Ended
	Sep. 30, 2016
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Liabilities Disclosure [Text Block]	NOTE 9 – OTHER CURRENT AND NON-CURRENT LIABILITIES Other current liabilities consist of the following: As of September 30, 2016 As of March 31, 2016 Statutory payables $ 24,557 $ 31,756 Employee related liabilities 492,696 518,587 Other liabilities /expenses payable - 534 Total $ 517,253 $ 550,877 Other non-current liabilities consist of the following: As of September 30, 2016 As of March 31, 2016 Creditors $ 751 $ 37,012 Acquisition related liabilities 150,000 873,571 Total $ 150,751 $ 910,583 Sundry creditors consist primarily of creditors to whom amounts are due for supplies and materials received in the normal course of business .

NOTE 10 - RELATED PARTY TRANSAC

NOTE 10 - RELATED PARTY TRANSACTIONS	6 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 10 – RELATED PARTY TRANSACTIONS As of September 30, 2016, the Company has (i) a balance due of $93,810 payable to our CEO inclusive of certain unpaid salaries from previous years and (ii) a long term loan of $653,753 due to the Director of Cabaran (RM 2.70 million). We pay Integrated Global Networks LLC (“IGN”), an affiliate of Mr. Mukunda, $4,500 per month for office space and certain general and administrative services. We believe, based on rents and fees for similar services in the Washington, D.C. metropolitan area, that the fee charged by IGN is at least as favorable as we could have obtained from an unaffiliated third party. The agreement is on a month-to-month basis and may be terminated by the Board of Directors at any time without notice.

NOTE 11 - NOTES PAYABLE AND LOA

NOTE 11 - NOTES PAYABLE AND LOANS - OTHERS	6 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 11 – NOTES PAYABLE AND LOANS – OTHERS The Company has an unsecured Note Payable to Bricoleur Partners, L.P. in the amount of $1,800,000 (“2012 Security”), which was due July 31, 2016. We are currently in negotiations to extend the loan. Up to July 2014, the Company was making monthly interest payments of 17,100 shares of common stock. Starting on August 2014 and as per Amendment No. 2 to the 2012 Security, the Company started making a monthly interest payment of 23,489 shares of common stock. No other “interest” payment is made on the loan. During the quarter ended September 30, 2016, the Company issued a total of 83,489 shares valued at $40,075 to this debt holder, which constituted an element of repayment of interest. Other long-term borrowings to meet our working capital requirements include $366,669 from various individuals including one of our previous directors who has loaned the Company $40,000 at 10% annual interest payable on April 25, 2018. All these loans have a term of five years, are unsecured, carry interest between 0% and 20%, carry no prepayment penalties, and may be repaid by the Company at any time.

NOTE 12 - COMMITMENTS AND CONTI

NOTE 12 - COMMITMENTS AND CONTINGENCY	6 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 12 – COMMITMENTS AND CONTINGENCY No significant contingencies or commitments were made or existed during the three months ended September 30, 2016.

NOTE 13 - COMMON STOCK

NOTE 13 - COMMON STOCK	6 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 13 – COMMON STOCK Currently, the Company has its Common Stock, $.0001 par value (trading symbol: IGC) (“Common Stock”) listed on the NYSE MKT. Its redeemable warrants to purchase Common Stock (trading symbol: IGC.WT) and its Units trade now on the OTC Markets. In February 2013, the Company voluntarily delisted its units from the NYSE MKT and requested its unit holders to contact IGC to get the existing units separated into Common Stock and Warrants. Each warrant entitles the holder to purchase one-tenth of share of Common Stock at an exercise price of $5.00. On February 2015, the Company extended the warrants’ expiration date to March 6, 2017 and these were delisted on February 2016. Effective March 31, 2014, the Company and Bricoleur Partners, L.P. agreed to amend the outstanding $1,800,000 promissory note (“2012 Security”), subject to the same terms of the 2012 Agreement and Amendments No. 1 and No. 2 thereto, to extend the maturity date of the 2012 Security from July 31, 2014 to July 31, 2016 and are currently negotiating a further extension. During the quarter ended September 30, 2016, the Company issued 83,489 shares valued at $40,075 to this debt holder, which constituted an element of repayment of interest. On August 22, 2013 and June 8, 2014, IGC entered into two respective At the Market (“ATM”) Agency Agreements with Enclave Capital LLC. Under the ATM Agency Agreement, IGC may offer and sell shares of Common Stock having an aggregate offering price of up to $4 million and 1.5 million from time to time, respectively, for a total of $5.5 million of gross proceeds from the combined ATM agreements. On May 20, 2016, IGC entered into a new At-The-Market Agency Agreement (“ATM Agreement”) with IFS Securities, Inc. (dba Brinson Patrick, a division of IFS Securities, Inc.), as sales agent (“Brinson Patrick” or the “Agent”). Under the ATM Agreement with Brinson Patrick, IGC may offer and sell shares of its Common Stock having an aggregate offering price of up to $10 million from time to time through Brinson Patrick. IGC intends to use the net proceeds from the sale of securities offered for working capital needs, repayment of indebtedness and other general corporate purposes. During the quarter ended September 30, 2016, the Company issued 469,140 shares of Common Stock valuated at $204,736 under this agreement. On April 2, 2014, as reported on a Current Report on Form 8-K filed by the Company on April 3, 2014, we entered into a securities purchase agreement with certain institutional investors relating to the sale and issuance by our company to the investors of an aggregate of 750,000 shares of our common stock, for a total purchase price of $506,250. Midtown Partners & Co., LLC, (“Midtown”) acted as our exclusive placement agent in this offering. IGC intends to use the net proceeds from the sale of securities offered for working capital needs, repayment of indebtedness, and other general corporate purposes. On September 12, 2014, IGC shareholders approved 1,500,000 shares of common stock as a special grant valued at $615,000 to IGC’s CEO and the directors of the board subject to vesting. In fiscal year 2015 out of the amount approved, we issued 1,200,000 shares of common stock with a value of $492,000. Under the December 18, 2014 Purchase Agreement with Apogee, we issued 1,200,000 common shares of IGC valued at $888,000 for the purchase of 24.9% ownership interest in Midtown Partners & Co., LLC. Pending downward adjustments, subject to certain balance sheet items of MTP, a total of 500,000 shares of IGC common stock have been held back. Pending the resolution of these balance sheet items, the shares that have been held back may be cancelled. The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us. We are not seeking to consummate the acquisition of the remaining interest in Midtown Partners at this time. Under the February 11, 2016 Purchase Agreement with Cabaran Ultima, we issued 998,571 common shares of IGC valued at $169,757 for the purchase of 100% ownership interest in Ultima. Between February 24, 2016 and March 23, 2016 we issued a total of 4,253,246 unregistered shares of common stock for an aggregate amount of $1.5 million. Further, pursuant to IGC’s employee stock option plan and as of September 30, 2016, the Company has granted (1) options to purchase 130,045 shares at an average exercise price of $5.60 per share, all of which are outstanding and exercisable as of September 30, 2016 and (2) a total of 3,684,950 shares to its directors and some of its employees. As of September 30, 2016, IGC has 23,957,827 shares of Common Stock issued and outstanding.

NOTE 14 - STOCK-BASED COMPENSAT

NOTE 14 - STOCK-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 14 – STOCK-BASED COMPENSATION On April 1, 2009, the Company adopted ASC 718, “Compensation-Stock Compensation” (previously referred to as SFAS No. 123 (revised 2004), Share Based Payment)

NOTE 15 - SELLING, GENERAL AND

NOTE 15 - SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	6 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Other Operating Income and Expense [Text Block]	NOTE 15 – SELLING, GENERAL AND ADMINISTRATIVE EXPENSES Selling, general and administrative expenses were $636,802 for the six months ended September 30, 2016 as compared to $830,756 for September 30, 2015. Selling, general and administrative expenses include compensation expenses to management, legal and professional expenses, investor-relations expenses, acquisition related expenses and travel expenses.

NOTE 16 - IMPAIRMENT

NOTE 16 - IMPAIRMENT	6 Months Ended
	Sep. 30, 2016
Disclosure Text Block Supplement [Abstract]
Cost and Equity Method Investments Disclosure [Text Block]	NOTE 16 – IMPAIRMENT We impaired the goodwill associated with the Company’s investment in Hong Kong during the fiscal quarter ended September 30, 2016.

NOTE 17 - OTHER INCOME

NOTE 17 - OTHER INCOME	6 Months Ended
	Sep. 30, 2016
Other Income and Expenses [Abstract]
Other Income and Other Expense Disclosure [Text Block]	NOTE 17 – OTHER INCOME Other income for the three-month period ended September 30, 2016 amounts to $11,985 and includes income received from the supply of skilled operators for the heavy equipment rental business and from the rent of the apartment belonging to TBL, which is located in Kochi, India.

NOTE 18 - RECONCILIATION OF EPS

NOTE 18 - RECONCILIATION OF EPS	6 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 18 – RECONCILIATION OF EPS The historical weighted average per share for our shares through September 30, 2016, was applied using the treasury method of calculating the fully diluted shares. The weighted average number of shares outstanding as of September 30, 2016 and 2015 used for the computation of basic earnings per share (“EPS”) is 23,636,403 and 14,995,130, respectively. Due to the loss incurred during the three-month period ended September 30, 2016, all of the potential equity shares are anti-dilutive and accordingly, the fully diluted EPS is equal to the basic EPS.

NOTE 19 - INCOME TAXES

NOTE 19 - INCOME TAXES	6 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 19 – INCOME TAXES The Company adopted ASC 740, Accounting for Uncertainty in Income Taxes. In assessing the recoverability of its deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible. The management considers historical and projected future taxable income, and tax planning strategies in making this assessment. The Company’s effective tax rate was 0% for both the quarters ended September 30, 2016 and 2015. The Company has US deferred tax assets, which have been offset by valuation allowance because of historical and expected losses. As the Company reverses its losses and becomes profitable, we will reassess the likelihood of recovering a portion or all of the deferred tax assets. The remaining balance of deferred tax assets, which appear on the balance sheet are from foreign based operations in which utilization is highly probable in offsetting future foreign income taxes. The Company recorded no income tax gain/expense resulting from operational results of its foreign entities for both three-month periods ended September 30, 2016 and 2015. As of September 30, 2016 and 2015, there was no significant liability for income tax associated with unrecognized tax benefits. As of September 30, 2016, IGC could not use its net operating losses.

NOTE 20 - SEGMENT INFORMATION

NOTE 20 - SEGMENT INFORMATION	6 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 20 – SEGMENT INFORMATION Accounting pronouncements establish standards for the manner in which public companies report information about operating segments in annual and interim financial statements. Operating segments are component of an enterprise that have distinct financial information available and evaluated regularly by the chief operating decision-maker (“CODM”) to decide how to allocate resources and evaluate performance. The Company’s CODM is considered to be the Company’s chief executive officer (“CEO”). The CEO reviews financial information presented on an entity level basis for purposes of making operating decisions and assessing financial performance. Therefore, the Company has determined that it operates in a single operating and reportable segment. The following provides information required by ASC 280-10-50-38 Entity-Wide Information: 1) The table below shows revenue reported by product and service: Product & Service Amount % on total revenues Trading $ - 0 % Rental / Lease /Real estate 237,563 100 % TOTAL $ 237,563 100 % 2(a) The table below shows the revenue attributed to the country of domicile (USA) and foreign countries. Revenue is attributed to an individual country if the invoice made to the customer originates in that country. The basis for originating an invoice is the underlying agreement. Geographic Location Amount % on total revenues Hong Kong $ - 0 % India and Malaysia 237,563 100 % TOTAL $ 237,563 100 % 2(b) The table below shows the long-term assets other than financial instruments held in the country of domicile and foreign countries. Nature of Assets USA (Country of Domicile) Foreign Countries (India and China) Total Intangible Assets $ - $ 113,321 $ 113,321 Property, Plant and Equipment, Net 856,369 6,073,613 6,929,982 Investments in Affiliates 2,603,411 - 2,603,411 Investments Others 5,204,611 25,653 5,230,264 Deferred Tax Assets - 356,619 356,619 Other Non-Current Assets - 504,065 504,065 Total Long Term Assets $ 8,664,391 $ 7,073,271 $ 15,737,662 3) For the quarter ended September 30, 2016 we had one main customer in Malaysia and five in India. Most of revenue came from the one main customer in Malaysia.

NOTE 21 - CERTAIN AGED RECEIVAB

NOTE 21 - CERTAIN AGED RECEIVABLES	6 Months Ended
	Sep. 30, 2016
Disclosure Text Block Supplement [Abstract]
Loans, Notes, Trade and Other Receivables, Excluding Allowance for Credit Losses [Text Block]	NOTE 21 – CERTAIN AGED RECEIVABLES The receivable and other assets as of September 30, 2016 and March 31, 2016, include certain aged receivables in the amount of $419,498. The aged receivables are due from the Cochin International Airport. Cochin International Airport is partially owned by the State Government of Kerala. The receivables have been due for periods in excess of one year as of September 30, 2016. These receivables are included in accounts receivable and have been classified as current because the arbitration process has concluded and ruling was given in our favor. The Company continues to carry the full value of the receivables without interest and without any impairment, because the Company believes that there is minimal risk that this organization will become insolvent and unable to make payment.

NOTE 22 - FAIR VALUE OF FINANCI

NOTE 22 - FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	NOTE 22 – FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of the Company’s current assets and current liabilities approximate their carrying value because of their short-term nature. Such financial instruments are classified as current and are expected to be liquidated within the next twelve months.

NOTE 23 - ACQUISITIONS

NOTE 23 - ACQUISITIONS	6 Months Ended
	Sep. 30, 2016
Disclosure Text Block Supplement [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	NOTE 23 – ACQUISITIONS Brilliant Hallmark Sdn. Bhd. On August 1, 2016, IGC acquired a 10% stake in a luxury hotel development project encompassing 6 plus acres in Genting Highlands, Malaysia. Consideration for the transaction was 4,000,000 IGC common shares valued at an agreed upon fair market value of approximately $1,880,000. Brilliant is a private limited land development company incorporated in Malaysia and has an exclusive Development Agreement with RGF Land Sdn. Bhd. dated April 18, 2016, to develop the land assets set out in the Agreement. The project is located in close proximity to Resorts World Genting, a hill resort destination that features the First World Indoor Theme Park and a casino that draws visitors from regions such as China, Korea, and The Middle East. Cabaran Ultima. Cabaran Ultima Sdn. Bhd. On February 11, 2016, we completed the acquisition of 100% of the outstanding share capital of Cabaran Ultima Sdn. Bhd., a corporation organized and existing under the laws of Malaysia (“Ultima”), from RGF Land Sdn. Bhd (“Land”), the sole shareholder of Ultima, pursuant to the terms of a Share Purchase Agreement among the parties. Ultima is a real estate development and international project management company incorporated in Kuala Lumpur, Malaysia. The purchase price of the acquisition consists of up to 998,571 shares of our common stock, valued at approximately $169,757 on the closing date of the Share Purchase Agreement. Ultima is an international real estate project management company with expertise in (i) building agro-infrastructure for growing medicinal plants and botanical extraction, (ii) construction of high-end luxury complexes such as service apartments, luxury condominiums and hotels, and (iii) design management of other large-scale infrastructure. Purchase price of the acquisition consisted of up to 998,571 shares of our common stock, valued at approximately $169,757 on the closing date of the acquisition and the same will be discharged as follows: All amounts in USD Particulars Fair Value IGC Stock Consideration $ 169,757 Total Purchase Consideration $ 169,757 The purchase has been preliminarily allocated to the acquired assets and liabilities, as follows: All amounts in USD Particulars Fair Value Property, Plant and Equipment $ 1,421 Trade and other receivables 12,385 Reimbursement Account 63,564 Cash and bank balances 16,438 Deposit & Prepayment 6,205 Trade and other payables (133,804 ) Other payables (12,789 ) Non-Controlling interest 18,168 Goodwill 198,169 Total Purchase Consideration $ 169,757 The above purchase price allocation includes provisional amounts for certain assets and liabilities. The purchase price allocation will continue to be refined primarily in the areas of goodwill and other identifiable intangibles, if any. During the measurement period, the Company expects to receive additional detailed information to refine the provisional allocation above. Non-controlling interests are valued based on the proportional interest in the fair value of the net assets of the acquired entity. Ultima is subject to legal and regulatory requirements, including but not limited to those related to taxation matters, in the jurisdiction in which it operates. The Company has conducted a preliminary assessment of liabilities arising out of these matters and has recognized provisional amounts in its initial accounting for the Acquisition for all identified liabilities in accordance with the requirements of ASC Topic 805. However, the Company is continuing its review of these matters during the measurement period, and if new information obtained about facts and circumstances that existed at the Acquisition date identifies adjustments to the liabilities initially recognized, as well as any additional liabilities that existed at the Acquisition date, the acquisition accounting will be revised to reflect the resulting adjustments to the provisional amounts initially recognized. The following unaudited pro-forma results of the operations of the Company for the six-month period ended September 30, 2016 and 2015 assume that the Ultima acquisition occurred during the beginning of the comparable period. Six months ended September 30, Particulars 2016 2015 Pro forma revenue $ 237,563 $ 4,230,244 Pro forma other income 13,740 (99,726 ) Pro forma net income attributable to IGC Stockholders (998,040 ) (693,498 ) Pro forma earnings per share Basic $ -0.04 $ -0.047 Diluted $ -0.04 $ -0.047 Midtown Partners & Co., LLC On December 18, 2014, we entered into a Purchase Agreement with Apogee the previous sole owner of the outstanding membership interests of Midtown Partners & Co., LLC, a Florida limited liability company registered as a broker-dealer under the Securities Exchange Act of 1934 (“Midtown”), and acquired, in an initial closing, 24.9% of the outstanding membership interests in Midtown. In consideration of the initial membership interests we have to issue to Apogee 1,200,000 shares of our common stock subject to downward adjustment. Following the receipt of all required SEC, FINRA and other regulatory approvals, by June 30, 2015, we have agreed to acquire, in a final closing, the remaining 75.1% of the outstanding membership interests in Midtown in consideration of our issuance to Apogee of an additional 700,000 shares of our common stock, subject to downward adjustment. The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us. Golden Gate Electronics Ltd On May 31, 2014, the Company acquired 51% of the issued and outstanding share capital of Golden Gate Electronics Limited, a corporation organized and existing under the laws of Hong Kong, now known as IGC International. IGC-INT, headquartered in Hong Kong, operates an e-commerce platform for trading of commodities and electronic components. The acquisition has been accounted for under the acquisition method of accounting in accordance with ASC Topic 805, “Business Combinations”. The total purchase price has been allocated to IGC-INT’s net tangible assets based on their estimated fair values at the date of acquisition. The Purchase Price Allocation is based upon preliminary estimates and assumptions that may be subject to change during the measurement period (up to one year from the Acquisition Date). The Company generally does not expect the goodwill recognized to be deductible for income tax purposes. The results of operations of IGC-INT for the month of December 2014 have been included in the consolidated results as shown in the Statement of Operations included herein. The assets and liabilities of IGC-INT have been recorded in the Consolidated Balance Sheet of the Company as of December 31, 2014. Purchase price of the acquisition consisted of up to 1,209,765 shares of our common stock, valued at approximately $1,052,496 on the closing date of the acquisition and the same will be discharged as follows: All amounts in USD Particulars Fair Value IGC Stock Consideration $ 178,925 Estimated earn out payment (in the form of Stock) 873,571 Total Purchase Consideration $ 1,052,496 The purchase has been preliminarily allocated to the acquired assets and liabilities, as follows: All amounts in USD Particulars Fair Value Cash and Cash Equivalents $ 166,916 Property, Plant and Equipment 81,730 Accounts Receivable 427,594 Inventory 749,133 Other Assets 211,264 Accounts Payable (162,757 ) Loans-Others (1,322,415 ) Other Current Liabilities (14,771 ) Non-Controlling Interest (66,980 ) Goodwill 982,782 Total Purchase Consideration $ 1,052,496 The above purchase price allocation includes provisional amounts for certain assets and liabilities. The purchase price allocation will continue to be refined primarily in the areas of goodwill and other identifiable intangibles, if any. During the measurement period, the Company expects to receive additional detailed information to refine the provisional allocation above. Non-controlling interests are valued based on the proportional interest in the fair value of the net assets of the acquired entity. IGC-INT is subject to legal and regulatory requirements, including but not limited to those related to taxation matters, in the jurisdiction in which it operates. The Company has conducted a preliminary assessment of liabilities arising out of these matters and has recognized provisional amounts in its initial accounting for the Acquisition for all identified liabilities in accordance with the requirements of ASC Topic 805. However, the Company is continuing its review of these matters during the measurement period, and if new information obtained about facts and circumstances that existed at the Acquisition date identifies adjustments to the liabilities initially recognized, as well as any additional liabilities that existed at the Acquisition date, the acquisition accounting will be revised to reflect the resulting adjustments to the provisional amounts initially recognized. The following unaudited pro-forma results of the operations of the Company for the six-months ended September 30, 2016 and 2015 assume that the IGC-INT acquisition occurred during the beginning of the comparable period. Six months ended September 30, Particulars 2016 2015 Pro forma revenue $ 237,563 $ 3,914,394 Pro forma other income 13,740 (99,728 ) Pro forma net income attributable to IGC Stockholders $ (998,040 ) $ (1,006,072 ) Pro forma Earnings per share Basic $ -0.04 $ -0.07 Diluted $ -0.04 $ -0.07 As previously announced we have curtailed activity in IGC-INT and for the quarter ended September 30, 2016 we have no revenue. We also impaired the goodwill associated with the acquisition. We are working on required paperwork that will effectively transfer Golden Gate back to the managing director in return for some or all of the IGC common stock that was initially awarded as part of the acquisition. We have realigned our resources to the phytocannabinoid industry and real estate development and international project management industry. HK Ironman On December 30, 2011, the Company acquired 100% of the issued and outstanding shares of capital stock of H&F Ironman Limited (“HK Ironman”), a Hong Kong company. HK Ironman owns 95% equity in H&F Venture Trade Ltd. aka Linxi Hefei Economic and Trade Co. (“PRC Ironman”). One of IGC’s areas of focus is the export of iron ore to China. HK Ironman through its subsidiary, PRC Ironman, operates a beneficiation plant in China, which converts low-grade iron ore to high-grade iron ore through a dry and wet separation processes. This Acquisition is intended to provide IGC with a platform in China to expand its business and ship low-grade iron ore, which is available for export in India, to China and convert the iron ore to a higher-grade iron ore before selling it to customers in China. The date of Acquisition, December 30, 2011, is the date on which the Company obtained control of HK Ironman by acquiring control over the majority of the Board of Directors of HK Ironman. The Acquisition has been accounted for under the acquisition method of accounting in accordance with ASC Topic 805, “Business Combination.” For further information on this acquisition and on purchase price allocation, please refer to Form 10-K for fiscal year ended 2012 filed with the SEC on July 16, 2012. In February 2015, IGC filed a lawsuit in the circuit court of Maryland against 24 defendants related to the acquisition of Ironman seeking to have the court order rescission of the underlying Acquisition Agreement and to void any past or future transfer of IGC shares to the defendants. It is anticipated that the lawsuit will go to trial in mid-2017. The assets of Ironman are currently shown on the balance sheet of IGC. Depending on the outcome of the lawsuit, the assets may be removed from the balance sheet of IGC and the corresponding acquisition shares returned to treasury. The assets of Ironman are currently shown on the balance sheet of IGC. Advance to TerraSphere Systems On June 27, 2014, we entered into an agreement with TerraSphere Systems, LLC. to develop multiple facilities to produce organic leafy green vegetables utilizing TerraSphere’s advanced pesticide-free organic indoor farming technology. Under the agreement IGC will own 51% of each venture once production is operational and will have a right of first refusal to participate in all future build-outs. IGC made a $150,000 investment in cash in the venture. The Company is negotiating a conversion of the investment into shares of a Canadian public vehicle that TerraSphere expects to merge into. Advance to Purchase land from Sricon In October 2014, pursuant to a Memorandum of Settlement with Sricon and related parties and in exchange for the 22% minority interest we had in Sricon, we received approximately five acres of prime land in Nagpur, India, valued at approximately $5 million, based on various factors including the exchange rate. The land is located a few miles from MIHAN, which is the largest development zone in terms of investment in India. The Company beneficially registered the land in its name on March 4, 2016.

NOTE 24 - INVESTMENT IN AFFILIA

NOTE 24 - INVESTMENT IN AFFILIATES	6 Months Ended
	Sep. 30, 2016
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]	NOTE 24 – INVESTMENT IN AFFILIATES Pursuant to the December 18, 2014 Purchase Agreement with Apogee, we issued 1,200,000 common shares of IGC valued at $888,000 for the purchase of 24.9% ownership interest in Midtown Partners & Co., LLC. Pending downward adjustments subject to certain balance sheet items of MTP a total of 500,000 shares of IGC common stock have been held back. Pending the resolution of these balance sheet items, the shares that have been held back may be cancelled. Further, the Company has written down the investment by $314,589 to reflect the latest available book value of Midtown Partners.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of preparation of financial statements The Company has prepared the accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles (“GAAP”) for complete financial statements. Therefore, the Financial Statements should be read in conjunction with the audited Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2016 filed with the SEC on July 14, 2016. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The results for interim periods do not necessarily indicate the results that may be expected for any other interim period or for the full year. The significant accounting policies adopted by the Company, in respect of these consolidated financial statements, are set out below. The Company’s current fiscal year ends on March 31, 2017.
Consolidation, Policy [Policy Text Block]	Principles of consolidation The consolidated financial statements include the accounts of the Company and all of its subsidiaries that are more than 50% owned and controlled. The financial statements of the parent company and its majority owned or controlled subsidiaries have been combined on a line by line basis by adding together the book values of all items of assets, liabilities, incomes and expenses after eliminating all inter-company balances and transactions and resulting unrealized gain or loss. Operating results of companies acquired are included from the dates of acquisition.
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]	Non-controlling interests Non-controlling interests in the Company’s consolidated financial statements result from the accounting for non-controlling interests in its subsidiaries. Non-controlling interests represent the subsidiaries’ earnings and components of other comprehensive income that are attributed to the non-controlling parties’ equity interests. The Company consolidates the subsidiaries into its consolidated financial statements. Transactions between the Company and its subsidiaries have been eliminated in the consolidated financial statements. The Company accounts for investments by the equity method where its investment in the voting stock gives it the ability to exercise significant influence over the investee but not control. In situations, such as the Company’s ownership interest in Sricon Infrastructure Private Limited (“Sricon”) and Midtown Partners & Co., LLC (“MTP”), wherein the Company is not able to exercise significant influence in spite of having 20% or more ownership, the Company has accounted for the investment based on the cost method. In addition, the Company consolidates any Variable Interest Entity (“VIE”) if it is determined to be the primary beneficiary. However, as of September 30, 2016, the Company does not have any interest in any VIE investment. The non-controlling interest disclosed in the accompanying financial statements for the second quarter of fiscal year 2017 represent the non-controlling interest in IGC International, Linxi H&F Economic and Trade Co. (PRC Ironman) and Cabaran Ultima’s subsidiaries and the profits or losses associated with the non-controlling interest in those operations. The adoption of Accounting Standards Codification (ASC) 810-10-65 “Consolidation — Transition and Open Effective Date Information” (previously referred to as SFAS No. 160, “Non-controlling Interests in Consolidated Financial Statements, an amendment of ARB No. 51”), has resulted in the reclassification of amounts previously attributable to minority interest (now referred to as non-controlling interest) to a separate component of shareholders’ equity on the accompanying consolidated balance sheets and consolidated statements of shareholders’ equity and comprehensive income (loss). Additionally, net income attributable to non-controlling interest is shown separately from net income in the consolidated statements of income. This reclassification had no effect on our previously reported financial position or results of operations.
Use of Estimates, Policy [Policy Text Block]	Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Management believes that the estimates and assumptions used in the preparation of the consolidated financial statements are prudent and reasonable. Significant estimates and assumptions are used for, but not limited to: allowance for uncollectible accounts receivable; future obligations under employee benefit plans; the useful lives of property, plant, equipment; intangible assets; the valuation of assets and liabilities acquired in a business combination; impairment of goodwill and investments; recoverability of advances; the valuation of options granted and warrants issued; and income tax and deferred tax valuation allowances. Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Critical accounting estimates could change from period to period and could have a material impact on IGC’s results, operations, financial position and cash flows. Changes in estimates are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the consolidated financial statements.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency transactions IGC operates in India, Hong Kong, China and Malaysia and a substantial portion of the Company’s sales are denominated in INR, HKD, RMB and RM, as of those respective operations. As a result, changes in the relative values of the U.S. dollar and INR, HKD, RMB or the RM affect revenues and profits as the results are translated into U.S. dollars in the consolidated and pro forma financial statements. The accompanying financial statements are reported in U.S. dollars. The INR, HKD, RMB and the RM are the functional currencies for the Company. The translation of the functional currencies into U.S. dollars is performed for assets and liabilities using the exchange rates in effect at the balance sheet date and for revenues, costs and expenses using average exchange rates prevailing during the reporting periods. Adjustments resulting from the translation of functional currency financial statements to reporting currency are accumulated and reported as other comprehensive income/(loss), a separate component of shareholders’ equity. The exchange rates used for translation purposes are as follows: Period End Average Rate Period End Rate Period (P&L rate) (Balance sheet rate) Three months ended September 30, 2015 INR 65.15 per USD INR 65.50 per USD RMB 6.29 per USD RMB 6.36 per USD HKD 7.78 per USD HKD 7.75 per USD Year ended March 31, 2016 INR 65.39 per USD INR 66.25 per USD RMB 6.32 per USD RMB 6.44 per USD HKD 7.76 per USD HKD 7.76 per USD RM 4.11 per USD RM 3.90 per USD Three months ended September 30, 2016 INR 66.37 per USD INR 66.58 per USD RMB 6.66 per USD RMB 6.67 per USD HKD 7.76 per USD HKD 7.76 per USD RM 3.99 per USD RM 4.13 per USD
Revenue Recognition, Policy [Policy Text Block]	Revenue recognition The majority of the revenue recognized for the quarterly periods ended September 30, 2016 and 2015 was derived from the Company’s subsidiaries, when all of the following criteria have been satisfied: Revenue is recognized when persuasive evidence of an arrangement exists, the sales price is fixed or determinable and collectability is reasonably assured. Revenue from sale of goods is recognized when substantial risks and rewards of ownership are transferred to the buyer under the terms of the contract. For the sale of goods, the timing of the transfer of substantial risks and rewards of ownership is based on the contract terms negotiated with the buyer, e.g., FOB or CIF. We consider the guidance provided under Staff Accounting Bulletin (“SAB”) 104 in determining revenue from sales of goods. Considerations have been given to all four conditions for revenue recognition under that guidance. The four conditions are: · Contract – Persuasive evidence of our arrangement with the customers; · Delivery – Based on the terms of the contracts, the Company assesses whether the underlying goods have been delivered and therefore the risks and rewards of ownership are completely transferred; · Fixed or determinable price – The Company enters into contracts where the price for the goods being sold is fixed and not contingent upon other factors. · Collection is deemed probable – At the time of recognition of revenue, the Company makes an assessment of its ability to collect the receivable arising on the sale of the goods and determines that collection is probable. Revenue for any sale is recognized only if all of the four conditions set forth above are met. The Company assesses these criteria at the time of each sale. In the absence of meeting any of the criteria set out above, the Company defers revenue recognition until all of the four conditions are met. Revenue from construction/project related activity and contracts for supply/commissioning of complex plant and equipment is recognized as follows: (a) Cost plus contracts: Contract revenue is determined by adding the aggregate cost plus proportionate margin as agreed with the customer and expected to be realized. (b) Fixed price contracts: Contract revenue is recognized using the percentage completion method and the percentage of completion is determined as a proportion of cost incurred-to-date to the total estimated contract cost. Changes in estimates for revenues, costs to complete, and profit margins are recognized in the period in which they are reasonably determinable. · In many of the fixed price contracts entered into by the Company, significant expenses are incurred in the mobilization stage in the early stages of the contract. The expenses include those that are incurred in the transportation of machinery, erection of heavy machinery, clearing of the campsite, workshop ground cost, overheads, etc. All such costs are booked to deferred expenses and written off over the period in proportion to revenues earned. · Where the modifications of the original contract are such that they effectively add to the existing scope of the contract, the same are treated as a change orders. On the other hand, where the modifications are such that they change or add an altogether new scope, these are accounted for as a separate new contract. The Company adjusts contract revenue and costs in connection with change orders only when both, the customer and the Company with respect to both the scope and invoicing and payment terms, approve them. · In the event of claims in our percentage of completion contracts, the additional contract revenue relating to claims is only accounted after the proper award of the claim by the competent authority. The contract claims are considered in the percentage of completion only after the proper award of the claim by the competent authority. Full provision is made for any loss in the period in which it is foreseen. Revenue from service related activities and miscellaneous other contracts are recognized when the service is rendered using the proportionate completion method or completed service contract method.
Receivables, Policy [Policy Text Block]	Accounts receivable Accounts receivable from customers in the electronics business are recorded at the invoiced amount, taking into consideration any adjustments made for returns. Also, the Company evaluates the collectability of selected accounts receivable on a case-by-case basis and makes adjustments to the bad debt reserve for expected losses. For all other accounts, the Company estimates reserves for bad debts based on general aging, experience and past-due status of the accounts. When applicable, the Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of clients to make required payments. The allowance for doubtful accounts is determined by evaluating the relative credit worthiness of each client, historical collections experience and other information, including the aging of the receivables. If circumstances related to customers change, estimates of recoverability would be further adjusted. Regarding our collection policy on electronics trading receivables, there are three types of trades: (1) payment guaranteed through letters of credit, (2) deposit or spot payment on delivery or (3) delivery on credit. With the first type of trade: our policy for collection is to ask the customer to open a letter of credit with a bank. The typical terms of the letter of credit are that 100% of the payment is made when the material is shipped. With the second type of trade, customers pay on delivery. On the third type of trade, our policy is to allow the customer to have a payment credit term of 90 days.
Inventory, Policy [Policy Text Block]	Inventories We provide for inventory obsolescence, excess inventory and inventories with carrying values in excess of market values based on our assessment of the future demands, market conditions and our specific inventory management procedures. If market conditions and actual demands are less favorable than our estimates, additional inventory write-downs may be required. In all cases, inventory is carried at the lower of historical cost or market value.
Investment, Policy [Policy Text Block]	Investments Investments are initially measured at cost, which is the fair value of the consideration given for them, including transaction costs. The Company’s equity in the earnings/(losses) of affiliates is included in the statement of income and the Company’s share of net assets of affiliates is included in the balance sheet. Where the Company’s ownership interest in spite of being in excess of 20% is not sufficient to exercise significant influence, the Company has accounted for the investment based on the cost method, as is the case of Midtown Partners & Co., LLC (“MTP”).
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment (PP&E) Property and equipment are recorded at cost net of accumulated depreciation and depreciated over their estimated useful lives using the straight-line method. The estimated useful lives of assets are as follows: Buildings 5-25 years Plant and machinery 10-20 years Computer equipment 3-5 years Office equipment 3-5 years Furniture and fixtures 5-10 years Vehicles 5-10 years Upon retirement or disposition, cost and related accumulated depreciation of the property and equipment are de-recognized from the books of accounts and the gain or loss is reflected in the results of operation. Cost of additions and substantial improvements to property and equipment are capitalized in the books of accounts. The cost of maintenance and repairs of the property and equipment are charged to operating expenses as incurred.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of long – lived assets The Company reviews its long-lived assets, with finite lives, for impairment whenever events or changes in business circumstances indicate that the carrying amount of assets may not be fully recoverable. Such circumstances include, though are not limited to, significant or sustained declines in revenues or earnings, future anticipated cash flows, business plans and material adverse changes in the economic climate, such as changes in operating environment, competitive information and impact of changes in government policies. For assets that the Company intends to hold for use, if the total of the expected future undiscounted cash flows produced by the assets or subsidiary company is less than the carrying amount of the assets, a loss is recognized for the difference between the fair value and carrying value of the assets. For assets the Company intends to dispose of by sale, a loss is recognized for the amount by which the estimated fair value less cost to sell is less than the carrying value of the assets. Fair value is determined based on quoted market prices, if available, or other valuation techniques including discounted future net cash flows.
Earnings Per Share, Policy [Policy Text Block]	Earnings per common share Basic earnings per share is computed by dividing net income/(loss) applicable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the additional dilution from all potentially dilutive securities such as stock warrants and options.
Income Tax, Policy [Policy Text Block]	Income taxes The Company accounts for income taxes under the asset and liability method, in accordance with ASC 740, Income Taxes, which requires an entity to recognize deferred tax liabilities and assets. Deferred tax assets and liabilities are recognized for the future tax consequence attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the enacted tax rate expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. A valuation allowance is established and recorded when management determines that some or all of the deferred tax assets are not likely to be realized and therefore, it is necessary to reduce deferred tax assets to the amount expected to be realized. In evaluating a tax position for recognition, management evaluates whether it is more-likely-than-not that a position will be sustained upon examination, including resolution of related appeals or litigation processes, based on technical merits of the position. If the tax position meets the more-likely-than-not recognition threshold, the tax position is measured and recognized in the Company’s financial statements as the largest amount of tax benefit that, in management’s judgment, is greater than 50% likely of being realized upon settlement. As of September 30, 2016 and 2015, there was no significant liability for income tax associated with unrecognized tax benefits. The issuance by IGC of its common stock to (1) HK Ironman stockholders in exchange for HK Ironman stock; to (2) Golden Gate Electronics Ltd (“GG”) in exchange for GG stock; to (3) Apogee Financial in exchange for a membership interest in Midtown Partners, LLC; to (4) Cabaran Ultima (“Ultima”) in exchange for Ultima’s stock; and to (5) Brilliant in exchange for Brilliant’s stock as contemplated by the respective stock purchase agreements between the Company and HK Ironman, PRC Ironman and their stockholders; between the Company and Golden Gate Electronics Ltd and its stockholders; between the Company and Apogee Financial and their stockholders; between the Company and Cabaran Ultima and its stockholders; and between the Company and Brilliant generally will not be taxable transactions to U.S. holders for U.S. federal income tax purposes. It is expected that IGC and its stockholders will not recognize any gain or loss because of the approval of the shares for U.S. federal income tax purposes.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents For financial statement purposes, the Company considers all highly liquid debt instruments with maturity of three months or less, to be cash equivalents. The Company maintains its cash in bank accounts in the United States of America, Mauritius, India, Hong Kong, and Malaysia, which at times may exceed applicable insurance limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalent. The Company does not invest its cash in securities that have an exposure to U.S. mortgages.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted cash Restricted cash consists of deposits pledged to various government authorities and deposits used as collateral with banks for guarantees and letters of credit, given by the Company to its customers or vendors.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair value of financial instruments As of September 30, 2016 and March 31, 2016, the carrying amounts of the Company’s financial instruments, which included cash and cash equivalents, accounts receivable, unbilled accounts receivable, restricted cash, accounts payable, accrued employee compensation and benefits and other accrued expenses, approximate their fair values due to the nature of the items.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of credit risk and significant customers Financial instruments, which potentially expose the Company to concentrations of credit risk, are primarily comprised of cash and cash equivalents, investments, derivatives, accounts receivable and unbilled accounts receivable. The Company places its cash, investments and derivatives in highly rated financial institutions. The Company adheres to a formal investment policy with the primary objective of preservation of principal, which contains credit rating minimums and diversification requirements. Management believes its credit policies reflect normal industry terms and business risk. The Company does not anticipate non-performance by the counterparties and, accordingly, does not require collateral. During this quarter, sales were spread across many customers in India and one customer in Malaysia, and the credit concentration risk is low.
Business Combinations Policy [Policy Text Block]	Business combination In accordance with ASC Topic 805, Business Combinations, the Company uses the purchase method of accounting for all business combinations consummated after June 30, 2001. Intangible assets acquired in a business combination are recognized and reported apart from goodwill if they meet the criteria specified in ASC Topic 805. Any purchase price allocated to an assembled workforce is not accounted separately.
Postemployment Benefit Plans, Policy [Policy Text Block]	Employee benefits plan In accordance with applicable Indian laws, the Company provides for gratuity, a defined benefit retirement plan (Gratuity Plan) covering certain categories of employees. The Gratuity Plan provides a lump sum payment to vested employees, at retirement or termination of employment, an amount based on the respective employee’s last drawn salary and the years of employment with the Company. In addition, all employees receive benefits from a provident fund, a defined contribution plan. The employee and employer each make monthly contributions to the plan equal to 12% of the covered employee’s salary. The contribution is made to the Government’s provident fund. At this time, the Company does not participate in a multi-employer defined contribution plan in China to provide employees with certain retirement, medical and other fringe benefits because most of the Company’s workers are contractors employed through agencies or other companies. In the United States, we provide health insurance, life insurance, and 401 K benefits. The Company makes a 401-K matching contribution up to 6% of the employee’s annual salary.
Commitments and Contingencies, Policy [Policy Text Block]	Commitments and contingencies Liabilities for loss contingencies arising from claims, assessments, litigations, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Accounting for goodwill and related impairment Goodwill represents the excess cost of an acquisition over the fair value of our share of net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on acquisition of subsidiaries is disclosed separately. Goodwill is stated at cost less impairment losses incurred, if any. The Company adopted the provisions of ASC 350, “Intangibles – Goodwill and Others” (previously referred to as SFAS No. 142, “Goodwill and Other Intangible Assets,” which sets forth the accounting for goodwill and intangible assets subsequent to their acquisition. ASC 350 requires that goodwill and indefinite-lived intangible assets be allocated to the reporting unit level, which the Company defines as each subsidiary. ASC 350 also prohibits the amortization of goodwill and indefinite-lived intangible assets upon adoption, but requires that they be tested for impairment at least annually, or more frequently as warranted, at the reporting unit level. Pursuant to ASC 350-20-35-4 through 35-19, the impairment testing of goodwill is a two-step process. The first step of the goodwill impairment test, used to identify potential impairment, compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired, thus the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test shall be performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test, used to measure the amount of impairment loss, compares the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. If the carrying amount of reporting unit goodwill exceeds the implied fair value of that goodwill, an impairment loss shall be recognized in an amount equal to that excess. The loss recognized cannot exceed the carrying amount of goodwill. After a goodwill impairment loss is recognized, the adjusted carrying amount of goodwill shall be its new accounting basis. Subsequent reversal of a previously recognized goodwill impairment loss is prohibited once the measurement of that loss is completed. In ASC 350.20.20, a reporting unit is defined as an operating segment or one level below the operating segment. A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component. The Company has determined that it operates in a single operating segment. While the Company’s Chief Executive Officer reviews the consolidated financial information for the purposes of decisions relating to resource allocation, the Company’s Chief Financial Officer, on an as-need basis, looks at the financial statements of the individual legal entities in India for the limited purpose of consolidation. Given the existence of discrete financial statements at an individual entity level in India, the Company believes that each of these entities constitute a separate reporting unit under a single operating segment. Therefore, the first step in the impairment testing for goodwill is the identification of reporting units and the allocation of goodwill to these reporting units. Accordingly, IGC International and Cabaran Ultima, which are two of the legal entities in Hong Kong and in Malaysia, respectively, are also considered separate reporting units and therefore the Company believes that the assessment of goodwill impairment at the subsidiaries level, which are also a reporting unit each, is appropriate. The analysis of fair value is based on the estimate of the recoverable value of the underlying assets. For long-lived assets such as land, the Company obtains appraisals from independent professional appraisers to determine the recoverable value. For other assets such as receivables, the recoverable value is determined based on an assessment of the collectability and any potential losses due to default by the counter parties. Unlike goodwill, long-lived assets are assessed for impairment only where there are any specific indicators for impairment.
Reclassification, Policy [Policy Text Block]	Reclassifications No reclassifications have been made for this first quarter of fiscal year ending March 31, 2017. In the last quarter of fiscal year ending March 31, 2016, we reclassified the Investment in Affiliates (22% minority interest investment we had in Sricon) to Investment Others (five acres of prime land in Nagpur, India) as the company has returned the shares after transfer of land in its name as per the settlement agreement. The land, valued at approximately $5 million, based on various factors including the exchange rate, is located a few miles from MIHAN, which is the largest development zone in terms of investment in India. The Company beneficially registered the land in its name on March 4, 2016.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently issued and adopted accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Newly issued ASUs not listed below are expected to have no impact on the Company’s consolidated financial position and results of operations, because either the ASU is not applicable or the impact is expected to be immaterial. Recognition and Measurement of Financial Assets and Financial Liabilities: Disclosures for Investments in Certain Entities That Calculate Net Asset Value (NAV) per Share Debt Issuance Costs Consolidation Consolidation (Topic 810): Amendments to the Consolidation Analysis Revenue from Contracts with Customers Discontinued Operations and Significant Disposals

NOTE 1 - OVERVIEW (Tables)

NOTE 1 - OVERVIEW (Tables)	6 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Table Text Block]	The operations of IGC are based in Malaysia, India, Hong Kong, China and the United States. The financial statements of the following subsidiaries have been considered for consolidation. Subsidiaries Immediate holding company Country of Incorporation Percentage of holding as of September 30, 2016 Percentage of holding as of March 31, 2016 H&F Ironman Limited (“HK Ironman”) (1) IGC Hong Kong 100 100 Linxi H&F Economic and Trade Co. (“PRC Ironman”) (3) HK Ironman Peoples’ Republic of China 95 95 IGC – Mauritius (“IGC-M”) (1) IGC Mauritius 100 100 Techni Bharathi Private Limited (“TBL”) (2) IGC-M India 100 100 India Mining and Trading Private Limited (“IGC-IMT”) (2) IGC-M India 100 100 IGC Materials Private Limited (“IGC-MPL”) IGC-M India 100 100 IGC Logistic Private Limited (“IGC-LPL”) (2) IGC-M India 100 100 Cabaran Ultima Sdn. Bhd., (“Ultima”) (4) IGC Malaysia 100 100 (1) Wholly-owned by India Globalization Capital, Inc. (2) Wholly-owned by India Globalization Capital, Mauritius, Limited. (3) 95% owned by HK Ironman, which is India Globalization Capital, Inc.’s wholly-owned subsidiary. (4) 100% owned by India Globalization Capital, Inc.

NOTE 2 - SIGNIFICANT ACCOUNTI33

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Sep. 30, 2016
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Tables) [Line Items]
Foreign Currency Exchange Rates [Table Text Block]	The exchange rates used for translation purposes are as follows: Period End Average Rate Period End Rate Period (P&L rate) (Balance sheet rate) Three months ended September 30, 2015 INR 65.15 per USD INR 65.50 per USD RMB 6.29 per USD RMB 6.36 per USD HKD 7.78 per USD HKD 7.75 per USD Year ended March 31, 2016 INR 65.39 per USD INR 66.25 per USD RMB 6.32 per USD RMB 6.44 per USD HKD 7.76 per USD HKD 7.76 per USD RM 4.11 per USD RM 3.90 per USD Three months ended September 30, 2016 INR 66.37 per USD INR 66.58 per USD RMB 6.66 per USD RMB 6.67 per USD HKD 7.76 per USD HKD 7.76 per USD RM 3.99 per USD RM 4.13 per USD
Property, Plant and Equipment, Estimated Useful Lives [Member]
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Tables) [Line Items]
Property, Plant and Equipment [Table Text Block]	The estimated useful lives of assets are as follows: Buildings 5-25 years Plant and machinery 10-20 years Computer equipment 3-5 years Office equipment 3-5 years Furniture and fixtures 5-10 years Vehicles 5-10 years

NOTE 4 - OTHER CURRENT AND NO34

NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS (Tables)	6 Months Ended
	Sep. 30, 2016
Disclosure Text Block Supplement [Abstract]
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	Prepaid expenses and other current assets consist of the following: As of September 30, 2016 As of March 31, 2016 Advance to suppliers & services 372,081 315,659 Security/statutory advances 13,512 14,399 Advances to employees 868,517 878,042 Prepaid /accrued interest 1,234 1,239 Deposit and other current assets 17,082 17,168 Total $ 1,272,426 $ 1,226,507
Schedule of Other Assets, Noncurrent [Table Text Block]	Other non-current assets consist of the following: As of September 30, 2016 As of March 31, 2016 Statutory/Other advances $ 504,065 $ 507,300 Total $ 504,065 $ 507,300

NOTE 5 - INTANGIBLE ASSETS AN35

NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	The movement in intangible assets and goodwill is given below. As of September 30, 2016 As of March 31, 2016 Intangible assets at the beginning of the period $ 113,321 $ 306,131 Amortization - (158,780 ) Effect of foreign exchange translation - (34,030 ) Total Intangible assets $ 113,321 $ 113,321 Goodwill of IGC International Ltd 0 982,782 Goodwill of Cabaran Ultima SDN BHD 198,170 198,169 Total Goodwill $ 198,170 $ 1,180,951

NOTE 6 - PROPERTY, PLANT AND 36

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Sep. 30, 2016
Property Plant and Equipment Table [Member]
NOTE 6 - PROPERTY, PLANT AND EQUIPMENT (Tables) [Line Items]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment consist of the following: Category Useful Life (years) As of September 30, 2016 As of March 31, 2016 Building (flat) 25 $ 1,237,398 $ 1,238,569 Plant and machinery 20 6,658,105 6,666,402 Computer equipment 3 149,963 218,124 Office equipment 5 114,038 114,508 Furniture and fixtures 5 97,371 118,753 Vehicles 5 318,507 345,830 Assets under construction N/A 4,945,773 4,885,844 Total $ 13,521,155 $ 13,588,030 Less: Accumulated depreciation $ (6,591,173 ) $ (6,513,593 ) Net Assets $ 6,929,982 $ 7,074,437

NOTE 7 - INVESTMENTS - OTHERS (

NOTE 7 - INVESTMENTS - OTHERS (Tables)	6 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments [Table Text Block]	Investments – others for each of the periods ended September 30, 2016 and March 31, 2016 consisted of the following: As of September 30, 2016 As of March 31, 2016 Investment in equity shares of an unlisted company $ 25,653 $ 25,781 Investment in Land 5,204,611 5,149,611 Total $ 5,230,264 $ 5,175,392

NOTE 9 - OTHER CURRENT AND NO38

NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES (Tables)	6 Months Ended
	Sep. 30, 2016
Other Current Liabilities [Member]
NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES (Tables) [Line Items]
Schedule of Other Assets and Other Liabilities [Table Text Block]	Other current liabilities consist of the following: As of September 30, 2016 As of March 31, 2016 Statutory payables $ 24,557 $ 31,756 Employee related liabilities 492,696 518,587 Other liabilities /expenses payable - 534 Total $ 517,253 $ 550,877
Other Noncurrent Liabilities [Member]
NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES (Tables) [Line Items]
Schedule of Other Assets and Other Liabilities [Table Text Block]	Other non-current liabilities consist of the following: As of September 30, 2016 As of March 31, 2016 Creditors $ 751 $ 37,012 Acquisition related liabilities 150,000 873,571 Total $ 150,751 $ 910,583

NOTE 20 - SEGMENT INFORMATION (

NOTE 20 - SEGMENT INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Revenue from External Customers by Products and Services [Table Text Block]	The table below shows revenue reported by product and service: Product & Service Amount % on total revenues Trading $ - 0 % Rental / Lease /Real estate 237,563 100 % TOTAL $ 237,563 100 %
Revenue from External Customers by Geographic Areas [Table Text Block]	The table below shows the revenue attributed to the country of domicile (USA) and foreign countries. Revenue is attributed to an individual country if the invoice made to the customer originates in that country. The basis for originating an invoice is the underlying agreement. Geographic Location Amount % on total revenues Hong Kong $ - 0 % India and Malaysia 237,563 100 % TOTAL $ 237,563 100 %
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	The table below shows the long-term assets other than financial instruments held in the country of domicile and foreign countries. Nature of Assets USA (Country of Domicile) Foreign Countries (India and China) Total Intangible Assets $ - $ 113,321 $ 113,321 Property, Plant and Equipment, Net 856,369 6,073,613 6,929,982 Investments in Affiliates 2,603,411 - 2,603,411 Investments Others 5,204,611 25,653 5,230,264 Deferred Tax Assets - 356,619 356,619 Other Non-Current Assets - 504,065 504,065 Total Long Term Assets $ 8,664,391 $ 7,073,271 $ 15,737,662

NOTE 23 - ACQUISITIONS (Tables)

NOTE 23 - ACQUISITIONS (Tables)	6 Months Ended
	Sep. 30, 2016
Cabaran Ultima Sdn. Bhd. ("Ultima") [Member]
NOTE 23 - ACQUISITIONS (Tables) [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Purchase price of the acquisition consisted of up to 998,571 shares of our common stock, valued at approximately $169,757 on the closing date of the acquisition and the same will be discharged as follows: All amounts in USD Particulars Fair Value IGC Stock Consideration $ 169,757 Total Purchase Consideration $ 169,757
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The purchase has been preliminarily allocated to the acquired assets and liabilities, as follows: All amounts in USD Particulars Fair Value Property, Plant and Equipment $ 1,421 Trade and other receivables 12,385 Reimbursement Account 63,564 Cash and bank balances 16,438 Deposit & Prepayment 6,205 Trade and other payables (133,804 ) Other payables (12,789 ) Non-Controlling interest 18,168 Goodwill 198,169 Total Purchase Consideration $ 169,757
Business Acquisition, Pro Forma Information [Table Text Block]	The following unaudited pro-forma results of the operations of the Company for the six-month period ended September 30, 2016 and 2015 assume that the Ultima acquisition occurred during the beginning of the comparable period. Six months ended September 30, Particulars 2016 2015 Pro forma revenue $ 237,563 $ 4,230,244 Pro forma other income 13,740 (99,726 ) Pro forma net income attributable to IGC Stockholders (998,040 ) (693,498 ) Pro forma earnings per share Basic $ -0.04 $ -0.047 Diluted $ -0.04 $ -0.047
Golden Gate Electronics Limited ("Golden Gate") [Member]
NOTE 23 - ACQUISITIONS (Tables) [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Purchase price of the acquisition consisted of up to 1,209,765 shares of our common stock, valued at approximately $1,052,496 on the closing date of the acquisition and the same will be discharged as follows: All amounts in USD Particulars Fair Value IGC Stock Consideration $ 178,925 Estimated earn out payment (in the form of Stock) 873,571 Total Purchase Consideration $ 1,052,496
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The purchase has been preliminarily allocated to the acquired assets and liabilities, as follows: All amounts in USD Particulars Fair Value Cash and Cash Equivalents $ 166,916 Property, Plant and Equipment 81,730 Accounts Receivable 427,594 Inventory 749,133 Other Assets 211,264 Accounts Payable (162,757 ) Loans-Others (1,322,415 ) Other Current Liabilities (14,771 ) Non-Controlling Interest (66,980 ) Goodwill 982,782 Total Purchase Consideration $ 1,052,496
Business Acquisition, Pro Forma Information [Table Text Block]	The following unaudited pro-forma results of the operations of the Company for the six-months ended September 30, 2016 and 2015 assume that the IGC-INT acquisition occurred during the beginning of the comparable period. Six months ended September 30, Particulars 2016 2015 Pro forma revenue $ 237,563 $ 3,914,394 Pro forma other income 13,740 (99,728 ) Pro forma net income attributable to IGC Stockholders $ (998,040 ) $ (1,006,072 ) Pro forma Earnings per share Basic $ -0.04 $ -0.07 Diluted $ -0.04 $ -0.07

NOTE 1 - OVERVIEW (Details)

NOTE 1 - OVERVIEW (Details)

Aug. 31, 2016USD ($)shares

Feb. 11, 2016USD ($)shares

Dec. 18, 2015shares

Dec. 18, 2014USD ($)

Jun. 27, 2014shares

May 31, 2014USD ($)shares

Dec. 30, 2011

Feb. 29, 2016USD ($)shares

Mar. 31, 2006

Jun. 30, 2016

Sep. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Oct. 31, 2014USD ($)a

Jul. 31, 2009

Feb. 28, 2009

Golden Gate Electronics Limited ("Golden Gate") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Business Combination, Contingent Consideration Arrangements, Description

The terms of the Acquisition Agreement called for the delivery of 205,671 shares of IGC common stock at the signing of the Agreement and the remaining 1,004,094 shares were contingent on the electronics business meeting annual thresholds for revenue and profit through fiscal year ending on March 31, 2017

Equity Method Investment, Ownership Percentage

51.00%

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares

1,209,765

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned (in Dollars)

$ 1,052,496

Business Acquisition, Percentage of Voting Interests Acquired

51.00%

Business Combination, Consideration Transferred, Equity Interests Issued and Issuable (in Dollars)

$ 178,925

TerraSphere Systems, LLC [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Equity Method Investment, Ownership Percentage

51.00%

Sale of Stock, Percentage of Ownership after Transaction

51.00%

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares

50,000

Midtown Partners & Co. LLC, ("Midtown Partners") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Business Combination, Contingent Consideration Arrangements, Description

Following the receipt of all required SEC, FINRA and other regulatory approvals, by June 30, 2015, we have agreed to acquire, in a final closing, the remaining 75.1% of the outstanding membership interests in Midtown in consideration of our issuance to Apogee of an additional 700,000 shares of our common stock, subject to downward adjustment

Pending downward adjustments, subject to certain balance sheet items of MTP, a total of 500,000 shares of IGC common stock have been held back. Pending the resolution of these balance sheet items, the shares that have been held back may be cancelled. The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us. We are not seeking to consummate the acquisition of the remaining interest in Midtown Partners at this time.

The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us.

Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions

24.90%

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares

1,200,000

Business Acquisition, Percentage of Voting Interests Acquired

24.90%

24.90%

Business Combination, Consideration Transferred, Equity Interests Issued and Issuable (in Dollars)

$ 1,200,000

Cabaran Ultima Sdn. Bhd. ("Ultima") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares

998,571

998,571

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned (in Dollars)

$ 169,757

Business Acquisition, Percentage of Voting Interests Acquired

100.00%

100.00%

Business Combination, Consideration Transferred, Equity Interests Issued and Issuable (in Dollars)

$ 169,757

$ 169,758

Brilliant Hallmark Sdn. Bhd. ("Brilliant") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Equity Method Investment, Ownership Percentage

10.00%

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares

4,000,000

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned (in Dollars)

$ 1,880,000

Business Acquisition, Percentage of Voting Interests Acquired

10.00%

Techni Bharathi Limited ("TBL") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Equity Method Investment, Ownership Percentage

100.00%

Noncontrolling Interest, Ownership Percentage by Parent

[1]

100.00%

100.00%

Sricon Infrastructure Private Limited (Sricon) [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions

23.13%

IGC India Mining and Trading Private Limited ("IGC-IMT") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Equity Method Investment, Ownership Percentage

100.00%

Noncontrolling Interest, Ownership Percentage by Parent

[1]

100.00%

100.00%

IGC Materials Private Limited ("IGC-MPL") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Equity Method Investment, Ownership Percentage

100.00%

Noncontrolling Interest, Ownership Percentage by Parent

100.00%

100.00%

IGC Logistic Private Limited ("IGC-LPL") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Equity Method Investment, Ownership Percentage

100.00%

Noncontrolling Interest, Ownership Percentage by Parent

[1]

100.00%

100.00%

Linxi H&F Economic and Trade Co. ("PRC Ironman") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Noncontrolling Interest, Ownership Percentage by Parent

[2]

95.00%

95.00%

Sale of Stock, Percentage of Ownership after Transaction

95.00%

Cabaran Ultima Sdn. Bhd. ("Ultima") [Member] | RGF Cabaran Sdn. Bhd [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Equity Method Investment, Ownership Percentage

51.00%

Cabaran Ultima Sdn. Bhd. ("Ultima") [Member] | RGF Construction Sdn. Bhd. [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Equity Method Investment, Ownership Percentage

75.00%

Minority Interest Exchanged for Land [Member] | Sricon Infrastructure Private Limited (Sricon) [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Noncontrolling Interest, Ownership Percentage by Parent

22.00%

Minority Interest Exchanged for Land [Member] | INDIA | Land [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Area of Land (in Acres) | a

5

Land (in Dollars)

$ 5,000,000

H&F Ironman Limited ("HK Ironman") [Member]

NOTE 1 - OVERVIEW (Details) [Line Items]

Sale of Stock, Percentage of Ownership after Transaction

100.00%

[1]

Wholly-owned by India Globalization Capital, Mauritius, Limited.

[2]

95% owned by HK Ironman, which is India Globalization Capital, Inc.'s wholly-owned subsidiary.

NOTE 1 - OVERVIEW (Details) -

NOTE 1 - OVERVIEW (Details) - Schedule of Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net		6 Months Ended
		Sep. 30, 2016	Mar. 31, 2016
H&F Ironman Limited ("HK Ironman") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Intermediate Holding Company	[1]	IGC
Country of Incorporation	[1]	Hong Kong
Percentage of Holding	[1]	100.00%	100.00%
Linxi H&F Economic and Trade Co. ("PRC Ironman") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Intermediate Holding Company	[2]	HK Ironman
Country of Incorporation	[2]	Peoples' Republic of China
Percentage of Holding	[2]	95.00%	95.00%
IGC - Mauritius (IGC-M) [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Intermediate Holding Company	[1]	IGC
Country of Incorporation	[1]	Mauritius
Percentage of Holding	[1]	100.00%	100.00%
Techni Bharathi Limited ("TBL") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Intermediate Holding Company	[3]	IGC-M
Country of Incorporation	[3]	India
Percentage of Holding	[3]	100.00%	100.00%
IGC India Mining and Trading Private Limited ("IGC-IMT") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Intermediate Holding Company	[3]	IGC-M
Country of Incorporation	[3]	India
Percentage of Holding	[3]	100.00%	100.00%
IGC Materials Private Limited ("IGC-MPL") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Intermediate Holding Company		IGC-M
Country of Incorporation		India
Percentage of Holding		100.00%	100.00%
IGC Logistic Private Limited ("IGC-LPL") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Intermediate Holding Company	[3]	IGC-M
Country of Incorporation	[3]	India
Percentage of Holding	[3]	100.00%	100.00%
Cabaran Ultima Sdn. Bhd. ("Ultima") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Intermediate Holding Company	[4]	IGC
Country of Incorporation	[4]	Malaysia
Percentage of Holding	[4]	100.00%	100.00%
[1]	Wholly-owned by India Globalization Capital, Inc.
[2]	95% owned by HK Ironman, which is India Globalization Capital, Inc.'s wholly-owned subsidiary.
[3]	Wholly-owned by India Globalization Capital, Mauritius, Limited.
[4]	100% owned by India Globalization Capital, Inc.

NOTE 2 - SIGNIFICANT ACCOUNTI43

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	6 Months Ended
	Sep. 30, 2016USD ($)
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	12.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	6.00%
Sricon Infrastructure Private Limited (Sricon) [Member] | Minority Interest Exchanged for Land [Member]
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Equity Method Investment, Ownership Percentage	22.00%
Land (in Dollars)	$ 5

NOTE 2 - SIGNIFICANT ACCOUNTI44

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Foreign Currency Exchange Rates	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
India, Rupees
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Foreign Currency Exchange Rates [Line Items]
Exchange Rate, Period End Rate (Balance sheet rate)	66.58	66.25	65.50
China, Yuan Renminbi
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Foreign Currency Exchange Rates [Line Items]
Exchange Rate, Period End Rate (Balance sheet rate)	6.67	6.44	6.36
Hong Kong, Dollars
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Foreign Currency Exchange Rates [Line Items]
Exchange Rate, Period End Rate (Balance sheet rate)	7.76	7.76	7.75
Malaysia, Ringgits
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Foreign Currency Exchange Rates [Line Items]
Exchange Rate, Period End Rate (Balance sheet rate)	4.13	3.90
Weighted Average [Member] | India, Rupees
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Foreign Currency Exchange Rates [Line Items]
Exchange Rate, Period End Average Rate (P&L rate)	66.37	65.39	65.15
Weighted Average [Member] | China, Yuan Renminbi
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Foreign Currency Exchange Rates [Line Items]
Exchange Rate, Period End Average Rate (P&L rate)	6.66	6.32	6.29
Weighted Average [Member] | Hong Kong, Dollars
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Foreign Currency Exchange Rates [Line Items]
Exchange Rate, Period End Average Rate (P&L rate)	7.76	7.76	7.78
Weighted Average [Member] | Malaysia, Ringgits
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Foreign Currency Exchange Rates [Line Items]
Exchange Rate, Period End Average Rate (P&L rate)	3.99	4.11

NOTE 2 - SIGNIFICANT ACCOUNTI45

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Estimated Useful Lives	6 Months Ended
	Sep. 30, 2016
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	20 years
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Minimum [Member] | Building [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Minimum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years
Minimum [Member] | Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Minimum [Member] | Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Minimum [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Minimum [Member] | Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Maximum [Member] | Building [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	25 years
Maximum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	20 years
Maximum [Member] | Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Maximum [Member] | Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Maximum [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years
Maximum [Member] | Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years

NOTE 3 - ACCOUNTS RECEIVABLE (D

NOTE 3 - ACCOUNTS RECEIVABLE (Details) - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Receivables [Abstract]
Accounts Receivable, Net, Current	$ 653,959	$ 962,658

NOTE 4 - OTHER CURRENT AND NO47

NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS (Details) - Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Advance to suppliers & services	$ 372,081	$ 315,659
Security/statutory advances	13,512	14,399
Advances to employees	868,517	878,042
Prepaid /accrued interest	1,234	1,239
Deposit and other current assets	17,082	17,168
Total	$ 1,272,426	$ 1,226,507

NOTE 4 - OTHER CURRENT AND NO48

NOTE 4 - OTHER CURRENT AND NON-CURRENT ASSETS (Details) - Schedule of Other Assets, Noncurrent - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Schedule of Other Assets, Noncurrent [Abstract]
Statutory/Other advances	$ 504,065	$ 507,300
Total	$ 504,065	$ 507,300

NOTE 5 - INTANGIBLE ASSETS AN49

NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Details) - USD ($)	Sep. 30, 2016	Mar. 31, 2016	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net (Excluding Goodwill)	$ 113,321	$ 113,321	$ 306,131

NOTE 5 - INTANGIBLE ASSETS AN50

NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Details) - Schedule of Intangible Assets And Goodwill - USD ($)	6 Months Ended	12 Months Ended
	Sep. 30, 2016	Mar. 31, 2016
NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Details) - Schedule of Intangible Assets And Goodwill [Line Items]
Intangible assets at the beginning of the period	$ 113,321	$ 306,131
Amortization	0	(158,780)
Effect of foreign exchange translation	0	(34,030)
Total Intangible assets	113,321	113,321
Total Goodwill	198,170	1,180,951
IGC International Limited ("IGC-INT") [Member]
NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Details) - Schedule of Intangible Assets And Goodwill [Line Items]
Goodwiill acquired	0	982,782
Cabaran Ultima Sdn. Bhd. ("Ultima") [Member]
NOTE 5 - INTANGIBLE ASSETS AND GOODWILL (Details) - Schedule of Intangible Assets And Goodwill [Line Items]
Goodwiill acquired	$ 198,170	$ 198,169

NOTE 6 - PROPERTY, PLANT AND 51

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Depreciation, Depletion and Amortization	$ 97,842	$ 148,855	$ 195,514	$ 304,829

NOTE 6 - PROPERTY, PLANT AND 52

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT (Details) - Property, Plant and Equipment - USD ($)	6 Months Ended
	Sep. 30, 2016	Mar. 31, 2016
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 13,521,155	$ 13,588,030
Less: Accumulated depreciation	(6,591,173)	(6,513,593)
Net Assets	$ 6,929,982	7,074,437
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Property, plant and equipment, gross	$ 1,237,398	1,238,569
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Property, plant and equipment, gross	$ 6,658,105	6,666,402
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Property, plant and equipment, gross	$ 149,963	218,124
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Property, plant and equipment, gross	$ 114,038	114,508
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Property, plant and equipment, gross	$ 97,371	118,753
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Property, plant and equipment, gross	$ 318,507	345,830
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life
Property, plant and equipment, gross	$ 4,945,773	$ 4,885,844

NOTE 7 - INVESTMENTS - OTHERS53

NOTE 7 - INVESTMENTS - OTHERS (Details) - Schedule of Investments - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Schedule of Equity Method Investments [Line Items]
Investment in Land	$ 5,204,611	$ 5,149,611
Total	5,230,264	5,175,392
Midtown Partners & Co. LLC, ("Midtown Partners") [Member]
Schedule of Equity Method Investments [Line Items]
Investment in equity shares of an unlisted company	$ 25,653	$ 25,781

NOTE 8 - SHORT-TERM BORROWING54

NOTE 8 - SHORT-TERM BORROWINGS AND ADVANCE FROM CUSTOMERS (Details) - USD ($)	Sep. 30, 2016	Mar. 31, 2016
NOTE 8 - SHORT-TERM BORROWINGS AND ADVANCE FROM CUSTOMERS (Details) [Line Items]
Short-term Debt		$ 27,762
Foreign Line of Credit [Member]
NOTE 8 - SHORT-TERM BORROWINGS AND ADVANCE FROM CUSTOMERS (Details) [Line Items]
Short-term Debt	$ 0	$ 27,762

NOTE 9 - OTHER CURRENT AND NO55

NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES (Details) - Schedule of Other Current Liabilities - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Schedule of Other Current Liabilities [Abstract]
Statutory payables	$ 24,557	$ 31,756
Employee related liabilities	492,696	518,587
Other liabilities /expenses payable	0	534
Total	$ 517,253	$ 550,877

NOTE 9 - OTHER CURRENT AND NO56

NOTE 9 - OTHER CURRENT AND NON-CURRENT LIABILITIES (Details) - Schedule of Other Non-current Liabilities - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Schedule of Other Non-current Liabilities [Abstract]
Creditors	$ 751	$ 37,012
Acquisition related liabilities	150,000	873,571
Total	$ 150,751	$ 910,583

NOTE 10 - RELATED PARTY TRANS57

NOTE 10 - RELATED PARTY TRANSACTIONS (Details) - 6 months ended Sep. 30, 2016 ¥ in Thousands	USD ($)	CNY (¥)
Chief Executive Officer [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Due to Related Parties	$ 93,810
Director [Member] | Medium-term Notes [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Due to Related Parties	653,753	¥ 2,700
Affiliated Entity [Member] | Monthly Payment for Office Space and Certain General and Administrative Services [Member]
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items]
Related Party Transaction, Amounts of Transaction	$ 4,500

NOTE 11 - NOTES PAYABLE AND L58

NOTE 11 - NOTES PAYABLE AND LOANS - OTHERS (Details) - USD ($)	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Aug. 31, 2014	Sep. 30, 2016	Jul. 31, 2014	Sep. 30, 2016	Apr. 25, 2016
Unsecured Debt [Member]
NOTE 11 - NOTES PAYABLE AND LOANS - OTHERS (Details) [Line Items]
Debt Instrument, Face Amount		$ 1,800,000		$ 1,800,000
Debt Instrument, Maturity Date				Jul. 31, 2016
Debt Instrument, Frequency of Periodic Payment	monthly		monthly
Debt Instrument, Periodic Payment, Interest, Share Issuance (in Shares)	23,489		17,100
Debt Conversion, Converted Instrument, Shares Issued (in Shares)		83,489		83,489
Debt Conversion, Original Debt, Amount		$ 40,075		$ 40,075
Loans Payable [Member]
NOTE 11 - NOTES PAYABLE AND LOANS - OTHERS (Details) [Line Items]
Proceeds from Other Debt				$ 366,669
Debt Instrument, Term				5 years
Director [Member] | Loans Payable [Member]
NOTE 11 - NOTES PAYABLE AND LOANS - OTHERS (Details) [Line Items]
Debt Instrument, Face Amount					$ 40,000
Debt Instrument, Interest Rate, Stated Percentage					10.00%
Minimum [Member] | Loans Payable [Member]
NOTE 11 - NOTES PAYABLE AND LOANS - OTHERS (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		0.00%		0.00%
Maximum [Member] | Loans Payable [Member]
NOTE 11 - NOTES PAYABLE AND LOANS - OTHERS (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		20.00%		20.00%

NOTE 13 - COMMON STOCK (Details

NOTE 13 - COMMON STOCK (Details) - USD ($)	May 20, 2016	Feb. 11, 2016	Dec. 18, 2015	Dec. 18, 2014	Jun. 08, 2014	Apr. 02, 2014	Aug. 22, 2013	Feb. 28, 2013	Mar. 23, 2016	Feb. 29, 2016	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2016	Mar. 31, 2015	Mar. 31, 2016
NOTE 13 - COMMON STOCK (Details) [Line Items]
Common Stock, Par or Stated Value Per Share (in Dollars per share)											$ 0.0001		$ 0.0001		$ 0.0001
Warrant Description								Each warrant entitles the holder to purchase one-tenth of share of Common Stock at an exercise price of $5.00.
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)								$ 5
Warrant, Expiration Date Description										On February 2015, the Company extended the warrants’ expiration date to March 6, 2017 and these were delisted on February 2016.
Common Stock, Aggregate Amount Authorized (in Dollars)	$ 10,000,000				$ 1,500,000		$ 4,000,000
Common Stock, Estimated Net Proceeds from Issuance (in Dollars)					$ 5,500,000
Stock Issued During Period, Shares, New Issues						750,000			4,253,246		469,140
Stock Issued During Period, Value, New Issues (in Dollars)									$ 1,500,000		$ 204,736
Proceeds from Issuance or Sale of Equity (in Dollars)						$ 506,250
Stock Issued During Period, Value, Acquisitions (in Dollars)		$ 169,757
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number											130,045		130,045
Common Stock, Shares, Issued											23,957,827		23,957,827		23,265,531
Common Stock, Shares, Outstanding											23,957,827		23,957,827		23,265,531
ESOP 2008 Omnibus Plan [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number											130,045		130,045
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share)											$ 5.60		$ 5.60
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number											3,684,950		3,684,950
Unsecured Debt [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Debt Instrument, Face Amount (in Dollars)											$ 1,800,000		$ 1,800,000
Debt Conversion, Converted Instrument, Shares Issued											83,489		83,489
Debt Conversion, Original Debt, Amount (in Dollars)											$ 40,075		$ 40,075
Midtown Partners & Co. LLC, ("Midtown Partners") [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Stock Issued During Period, Shares, Acquisitions				1,200,000
Stock Issued During Period, Value, Acquisitions (in Dollars)				$ 888,000
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions				24.90%
Business Combination, Contingent Consideration Arrangements, Description			Following the receipt of all required SEC, FINRA and other regulatory approvals, by June 30, 2015, we have agreed to acquire, in a final closing, the remaining 75.1% of the outstanding membership interests in Midtown in consideration of our issuance to Apogee of an additional 700,000 shares of our common stock, subject to downward adjustment	Pending downward adjustments, subject to certain balance sheet items of MTP, a total of 500,000 shares of IGC common stock have been held back. Pending the resolution of these balance sheet items, the shares that have been held back may be cancelled. The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us. We are not seeking to consummate the acquisition of the remaining interest in Midtown Partners at this time.								The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us.
Business Acquisition, Shares Held Back				500,000
Cabaran Ultima Sdn. Bhd. ("Ultima") [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Stock Issued During Period, Shares, Acquisitions		998,571
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage		100.00%
CEO and Directors [Member]
NOTE 13 - COMMON STOCK (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized						1,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity, Fair Value Authorized (in Dollars)						$ 615,000
Stock Issued During Period, Shares, Share-based Compensation, Gross														1,200,000
Stock Issued During Period, Value, Share-based Compensation, Gross (in Dollars)														$ 492,000

NOTE 14 - STOCK-BASED COMPENS60

NOTE 14 - STOCK-BASED COMPENSATION (Details) - ESOP 2008 Omnibus Plan [Member]	90 Months Ended
	Sep. 30, 2016shares
NOTE 14 - STOCK-BASED COMPENSATION (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	269,345
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	139,300
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	3,684,950
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	0

NOTE 15 - SELLING, GENERAL AN61

NOTE 15 - SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disclosure Text Block [Abstract]
Selling, General and Administrative Expense	$ 339,585	$ 525,353	$ 636,802	$ 830,756

NOTE 17 - OTHER INCOME (Details

NOTE 17 - OTHER INCOME (Details)	6 Months Ended
	Sep. 30, 2016USD ($)
Other Income and Expenses [Abstract]
Other Income	$ 11,985

NOTE 18 - RECONCILIATION OF E63

NOTE 18 - RECONCILIATION OF EPS (Details) - shares	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Weighted Average Number of Shares Outstanding, Basic	23,636,403	14,995,130	23,636,403	14,995,130

NOTE 19 - INCOME TAXES (Details

NOTE 19 - INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent			0.00%	0.00%
Income Tax Expense (Benefit)	$ 0	$ 0	$ 0	$ 0

NOTE 20 - SEGMENT INFORMATION65

NOTE 20 - SEGMENT INFORMATION (Details) - Schedule of Revenue from External Customers by Products and Services - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue from External Customer [Line Items]
Revenue	$ 162,163	$ 2,055,585	$ 237,563	$ 3,914,394
% of Total Revenue			100.00%
Trading [Member]
Revenue from External Customer [Line Items]
Revenue			$ 0
% of Total Revenue			0.00%
Rental/Lease [Member]
Revenue from External Customer [Line Items]
Revenue			$ 237,563
% of Total Revenue			100.00%

NOTE 20 - SEGMENT INFORMATION66

NOTE 20 - SEGMENT INFORMATION (Details) - Schedule of Revenue from External Customers by Geographic Areas - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
NOTE 20 - SEGMENT INFORMATION (Details) - Schedule of Revenue from External Customers by Geographic Areas [Line Items]
Revenue	$ 162,163	$ 2,055,585	$ 237,563	$ 3,914,394
% of Total Revenue			100.00%
HONG KONG
NOTE 20 - SEGMENT INFORMATION (Details) - Schedule of Revenue from External Customers by Geographic Areas [Line Items]
Revenue			$ 0
% of Total Revenue			0.00%
INDIA & MALAYSIA [Member]
NOTE 20 - SEGMENT INFORMATION (Details) - Schedule of Revenue from External Customers by Geographic Areas [Line Items]
Revenue			$ 237,563
% of Total Revenue			100.00%

NOTE 20 - SEGMENT INFORMATION67

NOTE 20 - SEGMENT INFORMATION (Details) - Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas - USD ($)	Sep. 30, 2016	Mar. 31, 2016	Mar. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Intangible Assets	$ 113,321	$ 113,321	$ 306,131
Property, Plant and Equipment, Net	6,929,982	7,074,437
Investments in Affiliates	2,603,411	609,148
Investments Others	5,230,264	5,175,392
Deferred Tax Assets	356,619	356,684
Other Non-Current Assets	504,065	$ 507,300
Total Long Term Assets	15,737,662
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Intangible Assets	0
Property, Plant and Equipment, Net	856,369
Investments in Affiliates	2,603,411
Investments Others	5,204,611
Deferred Tax Assets	0
Other Non-Current Assets	0
Total Long Term Assets	8,664,391
Foreign Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Intangible Assets	113,321
Property, Plant and Equipment, Net	6,073,613
Investments in Affiliates	0
Investments Others	25,653
Deferred Tax Assets	356,619
Other Non-Current Assets	504,065
Total Long Term Assets	$ 7,073,271

NOTE 21 - CERTAIN AGED RECEIV68

NOTE 21 - CERTAIN AGED RECEIVABLES (Details) - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Disclosure Text Block Supplement [Abstract]
Other Receivables, Net, Current		$ 419,498
Other Receivables, Gross, Current	$ 419,498

NOTE 23 - ACQUISITIONS (Details

NOTE 23 - ACQUISITIONS (Details)	Aug. 01, 2016USD ($)ashares	Feb. 11, 2016USD ($)shares	Dec. 18, 2015shares	Dec. 18, 2014	Jun. 27, 2014USD ($)shares	May 31, 2014USD ($)shares	Feb. 29, 2016shares	Jun. 30, 2016	Oct. 31, 2014USD ($)a	Dec. 30, 2011
Brilliant Hallmark Sdn. Bhd. [Member]
NOTE 23 - ACQUISITIONS (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	10.00%
Area of Land (in Acres) | a	6
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares	4,000,000
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned (in Dollars) | $	$ 1,880,000
Cabaran Ultima Sdn. Bhd. ("Ultima") [Member]
NOTE 23 - ACQUISITIONS (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		100.00%					100.00%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares		998,571					998,571
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned (in Dollars) | $		$ 169,757
Midtown Partners & Co. LLC, ("Midtown Partners") [Member]
NOTE 23 - ACQUISITIONS (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired			24.90%	24.90%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares			1,200,000
Business Combination, Contingent Consideration Arrangements, Description			Following the receipt of all required SEC, FINRA and other regulatory approvals, by June 30, 2015, we have agreed to acquire, in a final closing, the remaining 75.1% of the outstanding membership interests in Midtown in consideration of our issuance to Apogee of an additional 700,000 shares of our common stock, subject to downward adjustment	Pending downward adjustments, subject to certain balance sheet items of MTP, a total of 500,000 shares of IGC common stock have been held back. Pending the resolution of these balance sheet items, the shares that have been held back may be cancelled. The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us. We are not seeking to consummate the acquisition of the remaining interest in Midtown Partners at this time.				The agreement had a deadline of June 30, 2015, for Apogee and Midtown Partners to obtain the requisite approvals from FINRA. Apogee did not file for approval on time, and consequently pursuant to the terms of the Agreement, there are several penalties that will apply, including the cancellation of 700,000 shares of IGC stock and a penalty of $125,000 owed by Apogee to us.
Golden Gate Electronics Limited ("Golden Gate") [Member]
NOTE 23 - ACQUISITIONS (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired						51.00%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares						1,209,765
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned (in Dollars) | $						$ 1,052,496
Business Combination, Contingent Consideration Arrangements, Description						The terms of the Acquisition Agreement called for the delivery of 205,671 shares of IGC common stock at the signing of the Agreement and the remaining 1,004,094 shares were contingent on the electronics business meeting annual thresholds for revenue and profit through fiscal year ending on March 31, 2017
Equity Method Investment, Ownership Percentage						51.00%
H&F Ironman Limited ("HK Ironman") [Member]
NOTE 23 - ACQUISITIONS (Details) [Line Items]
Equity Method Investment, Ownership Percentage										100.00%
Linxi H&F Economic and Trade Co. ("PRC Ironman") [Member]
NOTE 23 - ACQUISITIONS (Details) [Line Items]
Equity Method Investment, Ownership Percentage										95.00%
TerraSphere Systems, LLC [Member]
NOTE 23 - ACQUISITIONS (Details) [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares					50,000
Equity Method Investment, Ownership Percentage					51.00%
Payments to Acquire Businesses, Gross (in Dollars) | $					$ 150,000
Minority Interest Exchanged for Land [Member] | Land [Member] | INDIA
NOTE 23 - ACQUISITIONS (Details) [Line Items]
Area of Land (in Acres) | a									5
Land (in Dollars) | $									$ 5,000,000
Sricon Infrastructure Private Limited (Sricon) [Member] | Minority Interest Exchanged for Land [Member]
NOTE 23 - ACQUISITIONS (Details) [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent									22.00%

NOTE 23 - ACQUISITIONS (Detail

NOTE 23 - ACQUISITIONS (Details) - Schedule of Business Acquisitions, by Acquisition - Cabaran Ultima Sdn. Bhd. ("Ultima") [Member] - USD ($)	Feb. 11, 2016	Feb. 29, 2016
Business Acquisition [Line Items]
IGC Stock Consideration	$ 169,757	$ 169,758
Total Purchase Consideration	$ 169,757

NOTE 23 - ACQUISITIONS (Deta71

NOTE 23 - ACQUISITIONS (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed - USD ($)	Sep. 30, 2016	Mar. 31, 2016	Feb. 11, 2016
NOTE 23 - ACQUISITIONS (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Goodwill	$ 198,170	$ 1,180,951
Cabaran Ultima Sdn. Bhd. ("Ultima") [Member]
NOTE 23 - ACQUISITIONS (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Property, Plant and Equipment			$ 1,421
Trade and other receivables			12,385
Reimbursement Account			63,564
Cash and bank balances			16,438
Deposit & Prepayment			6,205
Trade and other payables			(133,804)
Other payables			(12,789)
Non-Controlling interest			18,168
Goodwill			198,169
Total Purchase Consideration			$ 169,757

NOTE 23 - ACQUISITIONS (Deta72

NOTE 23 - ACQUISITIONS (Details) - Business Acquisition, Pro Forma Information - Cabaran Ultima Sdn. Bhd. ("Ultima") [Member] - USD ($)	6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
NOTE 23 - ACQUISITIONS (Details) - Business Acquisition, Pro Forma Information [Line Items]
Pro forma revenue	$ 237,563	$ 4,230,244
Pro forma other income	13,740	(99,726)
Pro forma net income attributable to IGC Stockholders	$ (998,040)	$ (693,498)
Pro forma earnings per share
Basic (in Dollars per share)	$ (0.04)	$ (0.047)
Diluted (in Dollars per share)	$ (0.04)	$ (0.047)

NOTE 23 - ACQUISITIONS (Deta73

NOTE 23 - ACQUISITIONS (Details) - Schedule of Business Acquisitions, by Acquisition - Golden Gate Electronics Limited ("Golden Gate") [Member]	May 31, 2014USD ($)
Business Acquisition [Line Items]
IGC Stock Consideration	$ 178,925
Estimated earn out payment (in the form of Stock)	873,571
Total Purchase Consideration	$ 1,052,496

NOTE 23 - ACQUISITIONS (Deta74

NOTE 23 - ACQUISITIONS (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed - USD ($)	Sep. 30, 2016	Mar. 31, 2016	May 31, 2014
NOTE 23 - ACQUISITIONS (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Goodwill	$ 198,170	$ 1,180,951
Golden Gate Electronics Limited ("Golden Gate") [Member]
NOTE 23 - ACQUISITIONS (Details) - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Line Items]
Cash and Cash Equivalents			$ 166,916
Property, Plant and Equipment			81,730
Accounts Receivable			427,594
Inventory			749,133
Other Assets			211,264
Accounts Payable			(162,757)
Loans-Others			(1,322,415)
Other Current Liabilities			(14,771)
Non-Controlling Interest			(66,980)
Goodwill			982,782
Total Purchase Consideration			$ 1,052,496

NOTE 23 - ACQUISITIONS (Deta75

NOTE 23 - ACQUISITIONS (Details) - Business Acquisition, Pro Forma Information - Golden Gate Electronics Limited ("Golden Gate") [Member] - USD ($)	6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
NOTE 23 - ACQUISITIONS (Details) - Business Acquisition, Pro Forma Information [Line Items]
Pro forma revenue	$ 237,563	$ 3,914,394
Pro forma other income	13,740	(99,728)
Pro forma net income attributable to IGC Stockholders	$ (998,040)	$ (1,006,072)
Pro forma Earnings per share
Basic (in Dollars per share)	$ (0.04)	$ (0.07)
Diluted (in Dollars per share)	$ (0.04)	$ (0.07)

NOTE 24 - INVESTMENT IN AFFIL76

NOTE 24 - INVESTMENT IN AFFILIATES (Details) - USD ($)	Feb. 11, 2016	Dec. 18, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
NOTE 24 - INVESTMENT IN AFFILIATES (Details) [Line Items]
Stock Issued During Period, Value, Acquisitions	$ 169,757
Other than Temporary Impairment Losses, Investments			$ 183,835	$ 0	$ 183,835	$ 0
Midtown Partners & Co. LLC, ("Midtown Partners") [Member]
NOTE 24 - INVESTMENT IN AFFILIATES (Details) [Line Items]
Stock Issued During Period, Shares, Acquisitions		1,200,000
Stock Issued During Period, Value, Acquisitions		$ 888,000
Equity Method Investment, Ownership Percentage		24.90%
Business Acquisition, Shares Held Back		500,000
Other than Temporary Impairment Losses, Investments		$ 314,589