SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 14A INFORMATION

PROXY STATEMENT
PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. )

Filed by the Registrant |X|
Filed by a Party other than the Registrant |_|
Check the appropriate box:
|_| Preliminary Proxy Statement
|_| Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
|X| Definitive Proxy Statement
|_| Definitive Additional Materials
|_| Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12

The India Fund, Inc.
(Name of Registrant as Specified In Its Charter)

Payment of Filing Fee (Check the appropriate box):
|X| No fee required.
|_| Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.

1) Title of each class of securities to which transaction applies:
___________________________________________________________________.

2) Aggregate number of securities to which transaction applies:
___________________________________________________________________.

3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which
the filing fee is calculated and state how it is determined):
___________________________________________________________________.

4) Proposed maximum aggregate value of transaction:
___________________________________________________________________.

5) Total fee paid:
___________________________________________________________________.

|_| Fee paid previously with preliminary materials.
|_| Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and date of its filing.

1) Amount Previously Paid:
___________________________________________________________________.

2) Form, Schedule or Registration Statement No.:
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3) Filing Party:
___________________________________________________________________.

4) Date Filed:
___________________________________________________________________.

The India Fund, Inc.

CIBC Oppenheimer Tower
One World Financial Center
200 Liberty Street
New York, New York 10281

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

March 9, 1999

To the Stockholders:

The Annual Meeting of Stockholders of The India Fund, Inc. (the "Fund")
will be held at the offices of CIBC Oppenheimer Corp., CIBC Oppenheimer Tower,
One World Financial Center, 200 Liberty Street, New York, New York on the 40th
floor, on Friday, April 23, 1999, at 10:00 a.m., for the purposes of considering
and voting upon:

1. The election of directors (Proposal 1).

2. The ratification of the selection of PricewaterhouseCoopers LLP
as the independent accountants of the Fund for the year ending December 31, 1999
(Proposal 2).

3. Any other business that may properly come before the meeting.

The close of business on March 5, 1999 has been fixed as the record date
for the determination of stockholders entitled to notice of and to vote at the
meeting.

By Order of the Board of Directors,

/s/ Robert A. Blum

Robert A. Blum
President and Secretary

TO AVOID UNNECESSARY EXPENSE OF FURTHER SOLICITATION, WE URGE YOU to indicate
voting instructions on the enclosed proxy card, date and sign it and return it
promptly in the envelope provided, no matter how large or small your holdings
may be.

Instructions for Signing Proxy Cards

The following general rules for signing proxy cards may be of assistance
to you and avoid the time and expense to the Fund involved in validating your
vote if you fail to sign your proxy card properly.

1. Individual Accounts: Sign your name exactly as it appears in the
registration on the proxy card.

2. Joint Accounts: Either party may sign, but the name of the party
signing should conform exactly to a name shown in the registration.

3. Other Accounts: The capacity of the individual signing the proxy card
should be indicated unless it is reflected in the form of registration. For
example:

Registration

Corporate Accounts Valid Signature

(1) ABC Corp. ............................ ABC Corp.
(2) ABC Corp. ............................ John Doe, Treasurer
(3) ABC Corp. c/o John Doe, Treasurer .... John Doe
(4) ABC Corp. Profit Sharing Plan ........ John Doe, Trustee

Trust Accounts

(1) ABC Trust ............................ Jane B. Doe, Trustee
(2) Jane B. Doe, Trustee u/t/d 12/28/78 .. Jane B. Doe

Custodial or Estate Accounts

(1) John B. Smith, Cust.
f/b/o John B. Smith, Jr. UGMA ...... John B. Smith
(2) John B. Smith ........................ John B. Smith, Jr., Executor

The India Fund, Inc.

CIBC Oppenheimer Tower
One World Financial Center
200 Liberty Street
New York, New York 10281

---------------
PROXY STATEMENT
---------------

This proxy statement is furnished in connection with a solicitation by the
Board of Directors of The India Fund, Inc. (the "Fund") of proxies to be used at
the Annual Meeting of Stockholders of the Fund (the "Annual Meeting") to be held
at the offices of CIBC Oppenheimer Corp., CIBC Oppenheimer Tower, One World
Financial Center, 200 Liberty Street, New York, New York on the 40th floor, on
Friday, April 23, 1999, at 10:00 a.m. (and at any adjournment or adjournments
thereof) for the purposes set forth in the accompanying Notice of Annual Meeting
of Stockholders. This proxy statement and the accompanying form of proxy are
first being mailed to stockholders on or about March 9, 1999. The Fund's annual
report containing financial statements for the fiscal year ended December 31,
1998 is available, free of charge, by contacting Advantage Advisers, Inc. at the
address listed above or by calling 1-800-421-4777. Stockholders who execute
proxies retain the right to revoke them in person at the Annual Meeting or by
written notice received by the Secretary of the Fund at any time before they are
voted. Unrevoked proxies will be voted in accordance with the specifications
thereon and, unless specified to the contrary, will be voted FOR the Election of
Directors and FOR Proposal 2. The close of business on March 5, 1999 has been
fixed as the record date for the determination of stockholders entitled to
notice of and to vote at the Annual Meeting. Each stockholder is entitled to one
vote for each full share and an appropriate fraction of a vote for each
fractional share held. On the record date there were 33,782,133 shares of Common
Stock outstanding.

In the event that a quorum is not present at the Annual Meeting, or in the
event that a quorum is present but sufficient votes to approve any of the
proposals are not received, the persons named as proxies may propose one or more
adjournments of the Annual Meeting to a date not more than 120 days after the
original record date to permit further solicitation of proxies. Any such
adjournment will require the affirmative vote of a majority of those shares
represented at the Annual Meeting in person or by proxy. The persons named as
proxies will vote those proxies which they are entitled to vote FOR or AGAINST
any such proposal at their discretion. A stockholder vote may be taken on one or
more of the proposals in this proxy statement prior to any such adjournment if
sufficient votes have been received for approval. Under the By-Laws of the Fund,
a quorum is constituted by the presence in person or by proxy of the holders of
record of a majority of the outstanding shares of Common Stock of the Fund
entitled to vote at the Annual Meeting.

Advantage Advisers, Inc. ("Advantage"), whose principal business address
is CIBC Oppenheimer Tower, One World Financial Center, 200 Liberty Street, New
York, New York 10281, is the Fund's investment manager.

PROPOSAL 1: ELECTION OF DIRECTORS

In accordance with the Fund's Charter, the Fund's Board of Directors is
divided into three classes: Class I, Class II and Class III. At the Annual
Meeting, stockholders will be asked to elect two Class I Directors to hold
office until the 2002 Annual Meeting of Stockholders or thereafter when their
successors are elected and qualified. The terms of office of the Class II and
the Class III Directors expire at the Annual Meetings of Stockholders in 2000
and 2001, respectively, or thereafter in each case when their respective
successors are elected and qualified. The effect of these staggered terms is to
limit the ability of other entities or persons to acquire control of the Fund by
delaying the replacement of a majority of the Board of Directors.

The persons named in the accompanying form of proxy intend to vote at the
Annual Meeting (unless directed not to vote) FOR the election of the nominees
listed below. Each nominee has indicated that he will serve if elected, but if
any nominee should be unable to serve, the proxy will be voted for any other
person determined by the persons named in the proxy in accordance with their
judgment. Each of the nominees has been previously elected to the Board of
Directors by shareholders.

The following table provides information concerning the nominees for
election as directors:

Shares of Common Stock
Beneficially Owned,
Nominees and Principal Occupations Directly or Indirectly, on
During the Past Five Years Director Since Age February 1, 1999 (A)
- ------------------------------------------------------------------------------------------------------------------------

Nominees to serve until the year 2002
Annual Meeting of Stockholders

Leslie H. Gelb, Member of Audit Committee; President,
The Council on Foreign Relations (1993-Present);
Columnist (1991-1993), Deputy Editorial
Page Editor (1986-1990) and Editor,
Op-Ed Page (1988-1990), The New York Times. 1995 62 0

Gabriel Seeyave, Tax Advisor; formerly Partner,
De Chazal Du Mee & Co. (chartered accountants);
Director, The United Basalt Products Limited. 1994 67 0

The following table provides information concerning the directors serving
until the year 2000 and 2001 Annual Meetings of Stockholders:

Shares of Common Stock
Beneficially Owned,
Directors and Principal Occupations Directly or Indirectly, on
During the Past Five Years Director Since Age February 1, 1999 (A)
- ------------------------------------------------------------------------------------------------------------------------

Director serving until the year 2000
Annual Meeting of Stockholders

Jeswald W. Salacuse, Member of Audit Committee;
Henry J. Braker Professor of Commercial Law,
The Fletcher School of Law & Diplomacy (1990-Present);
Dean, The Fletcher School of Law & Diplomacy,
Tufts University (1986-1994). 1994 61 403

Charles F. Barber, Chairman of Audit Committee;
Consultant; formerly Chairman of the Board,
ASARCO Incorporated. 1994 82 1,000

Directors serving until the year 2001
Annual Meeting of Stockholders

Alan H. Rappaport*, Chairman; Managing Director,
CIBC Oppenheimer Corp.; Director and President,
Advantage Advisers, Inc. (1993-Present). 1994 45 3,012

Sir Rene Maingard C.B.E.; Director,
Rogers & Co., Ltd. (shipping, banking). 1994 81 0

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* "Interested person" as defined in the Investment Company Act of 1940, as
amended (the "1940 Act"), because of a relationship with Advantage.

(A) The holdings of no director represented more than 1% of the outstanding
shares of the Fund. Each director has sole voting and investment power
with respect to the listed shares.

Each of Messrs. Gelb, Salacuse, Barber and Rappaport serves as a director
of certain other U.S. registered investment companies, as described below. Mr.
Barber is a director of one other registered investment company advised by
Advantage, two registered investment companies advised by an affiliate of
Advantage, six registered investment companies co-advised by Value Advisors LLC
("Value Advisors") and Salomon Brothers Asset Management Inc ("SBAM") and ten
other registered investment companies advised by SBAM. Messrs. Gelb and Salacuse
are directors of four other registered investment companies advised by Value
Advisors and SBAM, one other investment company advised by Value Advisors and
OpCap Advisors and one other registered investment company advised by Advantage.
Mr. Salacuse is a director of four other registered investment companies advised
by SBAM. Mr. Rappaport is a director of two other registered investment
companies advised by Advantage, and is a director of two registered investment
companies advised by an affiliate of Advantage.

At February 1, 1999, directors and officers of the Fund as a group owned
beneficially less than 1% of the outstanding shares of the Fund.

The following table sets forth the beneficial ownership of shares of the
Fund, at February 1, 1999, by each person known to the Fund to be deemed to be
the beneficial owner of more than 5% of the outstanding shares of the Fund.

Name of Beneficial Owner Beneficially Owned Percent Ownership
---------------------------------------------------------------------------

City of London Investment Group PLC* 3,154,150 9.28%
10 Eastcheap
London EC3M ILX
England

- ----------

* Based solely upon information presented in Schedule 13G, providing
information as of December 31, 1998, filed by City of London Investment
Group PLC ("PLC"), which reports sole voting and dispositive power as to
all such shares, as well as a Schedule 13G, providing information as of
December 31, 1998, filed by City of London Investment Management Company
Ltd, which reports voting and dispositive power as to 2,855,496 shares,
representing 8.4% of the outstanding shares of the Fund. These are
affiliated entities. The Fund's understanding is that the aggregate
beneficial ownership of shares of the Fund by these affiliated entities is
reflected in the Schedule 13G filed by PLC. Pursuant to this
understanding, as of December 31, 1998, such ownership would be 3,154,150
shares, representing 9.28% of the outstanding shares of the Fund.

In addition, at February 1, 1999, Cede & Co., a nominee for participants
in Depository Trust Company, held of record 33,506,546 shares, equal to 99.05%
of the outstanding shares of the Fund.

The executive officers of the Fund are chosen each year at the first
meeting of the Board of Directors of the Fund following the Annual Meeting of
Stockholders, to hold office until the meeting of the Board following the next
Annual Meeting of Stockholders and until their successors are chosen and
qualified. In addition to Mr. Rappaport, the current executive officers of the
Fund are:

Name Office Age Officer Since
-------------------------------------------------------------------------
Robert A. Blum President and 38 1994
Secretary

Gerald A. Rothstein Vice President and 57 1998
Assistant Secretary

Lenard Brafman Treasurer 44 1998

Mr. Blum is Managing Director, CIBC Oppenheimer Corp. ("CIBC OpCo")
(1994-Present) and Associate General Counsel, CIBC OpCo. Mr. Blum previously
served as Senior Vice President, CIBC OpCo (1992-1994). Mr. Rothstein is
Managing Director, CIBC OpCo (1983-Present). Mr. Brafman is Executive Director,
Finance Department, CIBC OpCo (1997-Present). Mr. Brafman previously served as
Senior Vice President, Finance Department, Oppenheimer & Co., Inc. (1993-1997).
Messrs. Rappaport, Blum, Rothstein and Brafman also serve as officers of various
other registered investment companies advised by Advantage.

The Fund's Audit Committee is composed of Messrs. Barber, Gelb and
Salacuse. The principal functions of the Audit Committee are to recommend to the
Board the appointment of the Fund's independent accountants, to review with the
independent accountants the scope and anticipated cost of their audit and to
receive and consider a report from the independent accountants concerning their
conduct of the audit, including any comments or recommendations they might want
to make in that connection. This Committee met two times during the year ended
December 31, 1998. The Fund has no nominating or compensation committees.

During the fiscal year ended December 31, 1998, the Board of Directors met
six times. Each director attended at least 75% of the meetings of the Board or
the Committee of the Board for which he is eligible.

Under the federal securities laws, the Fund is required to provide to
stockholders in connection with the Annual Meeting information regarding
compensation paid to directors by the Fund as well as by the various other U.S.
registered investment companies advised by Advantage, Infrastructure Leasing &
Financial Services Limited ("ILFS"), the Fund's country adviser, or affiliates
thereof. The following table provides information concerning the approximate
compensation paid during the year ended December 31, 1998 to each director of
the Fund. Please note that the Fund does not provide any pension or retirement
benefits to directors. In addition, no remuneration was paid during the year
ended December 31, 1998 by the Fund to Mr. Rappaport, who as an officer or
employee of Advantage and CIBC OpCo., is an interested person as defined under
the 1940 Act.

Total Compensation
Aggregate from Other Funds Total Compensation
Compensation Advised by from Fund
Name of Director from Fund Advantage (B) and Fund Complex
- --------------------------------------------------------------------------------
Directorships (A) Directorships (A)

Leslie H. Gelb $9,150 $8,500(1) $17,650 (2)
Gabriel Seeyave $9,150 0 $9,150 (1)
Jeswald W. Salacuse $9,150 $8,500(1) $17,650 (2)
Charles F. Barber $9,350 $8,600(1) $18,621 (4)
Sir Rene Maingard $9,150 0 $9,150 (1)

- ----------

(A) The numbers in parentheses indicate the applicable number of investment
company directorships held by that director.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Securities Exchange Act of 1934 and Section 30(h) of
the 1940 Act in combination require the Fund's directors and officers, persons
who own more than ten percent of the Fund's Common Stock, Advantage, ILFS, and
their respective directors and officers, to file reports of ownership and
changes in ownership of the Fund's securities with the Securities and Exchange
Commission and the New York Stock Exchange, Inc. The Fund believes that all
relevant persons have complied with applicable filing requirements during the
fiscal year ended December 31, 1998.

Required Vote

Directors are elected by a plurality of the votes cast by the holders of
shares of Common Stock of the Fund present in person or represented by proxy at
a meeting with a quorum present. For purposes of the election of directors,
abstentions and broker non-votes will not be considered votes cast, and do not
affect the plurality vote required for directors.

PROPOSAL 2: RATIFICATION OF SELECTION OF INDEPENDENT ACCOUNTANTS

The Board of Directors of the Fund has selected PricewaterhouseCoopers LLP
as independent accountants of the Fund for the year ending December 31, 1999.
The appointment of independent accountants is approved annually by the Board of
Directors and is subsequently submitted to the stockholders for ratification.
The Fund has been advised by PricewaterhouseCoopers LLP that at December 31,
1998 neither the firm nor any of its partners had any direct or material
indirect financial interest in the Fund. A representative of
PricewaterhouseCoopers LLP will be available at the meeting to answer questions
concerning the Fund's financial statements and will have an opportunity to make
a statement if he or she chooses to do so.

THE DIRECTORS, INCLUDING THE "NON-INTERESTED" DIRECTORS, UNANIMOUSLY
RECOMMEND THAT THE STOCKHOLDERS VOTE "FOR" RATIFICATION OF THE SELECTION OF
INDEPENDENT ACCOUNTANTS.

Required Vote

Ratification of the selection of PricewaterhouseCoopers LLP as independent
accountants of the Fund requires the affirmative vote of the holders of a
majority of the votes cast by holders of shares of Common Stock of the Fund
present in person or represented by proxy at a meeting with a quorum present.
For purposes of this proposal, abstentions and broker non-votes will not be
considered votes cast for the foregoing purpose.

ADDITIONAL INFORMATION

Investment Management

Advantage Advisers, Inc.

Advantage serves as the Fund's investment manager. The address of
Advantage is CIBC Oppenheimer Tower, One World Financial Center, 200 Liberty
Street, New York, New York 10281.

Infrastructure Leasing & Financial Services Limited

ILFS serves as the Fund's country adviser. The address of ILFS is ITTS
House, 5th Floor, 28, K Dubhash Marg., Bombay, India 400 023.

Administration

CIBC OpCo serves as the Fund's administrator. The address of CIBC OpCo is
CIBC Oppenheimer Tower, One World Financial Center, 200 Liberty Street, New
York, New York 10281. CIBC OpCo subcontracts certain of its responsibilities to
PFPC Inc. The address of PFPC Inc. is 400 Bellevue Parkway, Wilmington, Delaware
19809.

Multiconsult Ltd. serves as Mauritius administrator to the Fund.
Multiconsult Ltd.'s address is Les Jamalacs-Vieux Conseil Street, Port Louis,
Mauritius.

Other Business

The Board of Directors of the Fund does not know of any other matter which
may come before the Annual Meeting. If any other matter properly comes before
the Annual Meeting, it is the intention of the persons named in the proxy to
vote the proxies in accordance with their judgment on that matter.

Proposals to be Submitted by Stockholders

All proposals by stockholders of the Fund which are intended to be
presented at the Fund's next Annual Meeting of Stockholders, to be held in 2000,
must be received by the Fund (addressed to The India Fund, Inc., CIBC
Oppenheimer Tower, One World Financial Center, 200 Liberty Street, New York, New
York 10281) for inclusion in the Fund's proxy statement and proxy relating to
that meeting no later than November 10, 1999. Any stockholder who desires to
bring a proposal at the Fund's 2000 Annual Meeting of Stockholders without
including such proposal in the Fund's Proxy Statement must deliver written
notice thereof to the Secretary of the Fund (addressed to The India Fund, Inc.,
CIBC Oppenheimer Tower, One World Financial Center, 200 Liberty Street, New
York, New York 10281) during the thirty-day period from January 25, 2000 to
February 23, 2000.

Expenses of Proxy Solicitation

The costs of preparing, assembling and mailing material in connection with
this solicitation of proxies will be borne by the Fund. Proxies may also be
solicited personally by officers of the Fund and by regular employees of
Advantage, CIBC OpCo and ILFS or their respective affiliates, or other
representatives of the Fund or by telephone or telegraph, in addition to the use
of mails. Brokerage houses, banks and other fiduciaries may be requested to
forward proxy solicitation material to their principals to obtain authorization
for the execution of proxies, and they will be reimbursed by the Fund for
out-of-pocket expenses incurred in this connection. Corporate Investor
Communications, Inc. has been retained to assist in the solicitation of proxies
at a fee to be paid by the Fund and estimated at $5,000 plus disbursements.

March 9, 1999

THE INDIA FUND, INC.

ANNUAL MEETING OF STOCKHOLDERS -- April 23, 1999
This Proxy is Solicited on Behalf of the Directors

The undersigned hereby appoints Robert A. Blum, Carmine E. Angone, Maureen
Seaman, and each of them, attorneys and proxies for the undersigned, with full
power of substitution and revocation, to represent the undersigned at the Annual
Meeting of Stockholders of the Fund to be held at CIBC Oppenheimer Tower, One
World Financial Center, New York, New York 10281 on Friday, April 23, 1999, at
10:00 a.m., and at any adjournments thereof, upon the matters set forth in the
Notice of Meeting and Proxy Statement dated March 9, 1999 and upon all other
matters properly coming before said Meeting.

Please indicate your vote by an "X" in the appropriate box on the reverse
side. This proxy, if properly executed, will be voted in the manner directed by
the stockholder. If no direction is made, this proxy will be voted FOR Proposals
1 (including all nominees for Director) and 2. Please refer to the Proxy
Statement for a discussion of the Proposals.

HAS YOUR ADDRESS CHANGED?

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

DO YOU HAVE ANY COMMENTS?

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

(Continued, and to be signed and dated, on the reverse side)

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS
A VOTE "FOR" PROPOSALS 1 (including all nominees for Director) AND 2.

1. Election of Directors

|_| FOR all nominees listed below

|_| WITHHOLD AUTHORITY to vote for all nominees

|_| EXCEPTIONS

(INSTRUCTIONS: To withhold authority to vote for any individual nominee, mark
the "Exceptions box" and place that nominee's name in the space provided below.)

Directors to serve until year 2002 Annual Meeting: Leslie H. Gelb and Gabriel
Seeyave

|_| Exceptions
------------------------------------------------------------------

2. The ratification of the selection of PricewaterhouseCoopers LLP as the
independent accountants of the Fund for the year ended December 31, 1999.

|_| FOR |_| AGAINST |_| ABSTAIN

3. Any other business that may properly come before the meeting.

|_| FOR |_| AGAINST |_| ABSTAIN

4. |_| I will be attending the meeting.

Address change and/or comments |_|

Note: Please sign exactly as your name appears on this Proxy. If joint owners,
EITHER may sign this Proxy. When signing as attorney, executor, administrator,
trustee, guardian or corporate officer, please give your full title.

Date:__________________________, 1999

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

- -------------------------------------
Signature(s), Title(s), if applicable

Please Sign, Date and Return the Proxy Promptly Using the Enclosed Envelope.

Votes MUST be indicated by |X| in Black or Blue ink.