Notes to Financial Statements The India Fund, Inc. December 31, 1997
NOTE A: Summary of Significant Accounting Policies
The India Fund, Inc. (the "Fund") was incorporated in Maryland on December 27, 1993, and commenced
operations on February 23, 1994. The Fund has established a branch in the Republic of Mauritius. The Fund is
registered under the Investment Company Act of 1940, as amended, as a closed-end, non-diversified
management investment company. Prior to commencing its operations on February 23, 1994, the Fund had no
activities other than the sale of 7,133 shares of capital stock to CIBC Oppenheimer Corp. ("CIBC
Oppenheimer"), formerly known as Oppenheimer & Co., Inc. At December 31, 1997, CIBC Oppenheimer
owned 7,133 shares of the Fund's capital stock.
The preparation of financial statements in accordance with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts and disclosures in the financial
statements. Actual results could differ from those estimates.
Significant accounting policies are as follows:
Portfolio Valuation. Investments are stated at value in the accompanying financial statements. All securities for
which market quotations are readily available are valued at:
(i) the last sales price prior to the time of determination, if there was a sale on the date of determination,
(ii) at the mean between the last current bid and asked prices, if there was no sales price on such date and bid
and asked quotations are available, and
(iii) at the bid price if there was no sales price on such date and only bid quotations are available.
Securities that are traded over-the-counter are valued, if bid and asked quotations are available, at the mean
between the current bid and asked prices. Securities for which sales prices and bid and asked quotations are not
available on the date of determination may be valued at the most recently available prices or quotations under
policies adopted by the Board of Direct