Interim Management Statement

New India Investment Trust PLC
27 July 2007


New India Investment Trust PLC
Interim Management Statement - 3 months to 30 June 2007


To the shareholders of New India Investment Trust PLC

This interim management statement has been produced solely to provide additional
information to shareholders as a body to meet the relevant requirements of the
UK Listing Authority's Disclosure and Transparency Rules. It should not be
relied upon by any other party or for any other purpose.

This interim management statement relates to the period from 1 April 2007 to 30
June 2007, and contains information that covers this period, and up to the date
of publication of this interim management statement, unless otherwise specified.


Investment objective

To achieve long-term capital appreciation by investing in companies which are
incorporated in India or which derive significant revenue or profit from India,
with dividend yield from the company being of secondary importance.  This
emphasis on long-term capital appreciation will be demonstrated by benchmarking
the Company's net asset performance against the Morgan Stanley Capital
International India Index (in sterling terms).



Benchmark

MSCI India Index.  Given that the manager does not adopt a benchmark approach,
performance can vary widely form the benchmark.



Material events

On 19 June 2007, the trust posted its annual report and accounts to 31 March
2007, and Notice of Annual General Meeting, to shareholders.  The trust's Annual
General Meeting will be held at One Bow Churchyard, Cheapside, London EC4M 9HH
at 11.00am on 20 September 2007.



The Board is not aware of any significant events or transactions which have
occurred between 30 June 2007 and the date of publication of this interim
management statement which would have a material impact on the financial
position of the trust.



For latest NAV and share price information please refer to the trust's website,
www.newindia-trust.co.uk.



Fifteen largest equity holdings at 30 June 2007
                                                 %
HDFC                                            9.0
ICICI Bank                                      8.9
Satyam Computer                                 8.0
Infosys Technologies                            5.7
Hero Honda                                      5.2
Grasim Industries                               4.9
ABB India                                       4.5
Tata Consultancy Services                       4.2
Oil and Natural Gas                             3.7
Container Corporation of India                  3.6
Bharat Petroleum                                3.5
Sun Pharmaceutical                              3.4
GlaxoSmithKline India                           3.3
Tata Consultancy Services                       3.2
GAIL                                            2.9
                                             __________
Total                                          74.0
                                             __________



Sector allocation as at 30 June 2007
Sector                                           %
Financial                                      20.7
Information Technology                         20.0
Healthcare                                     11.7
Consumer Discretionary                          9.3
Utilities                                       8.3
Industrials                                     8.1
Materials                                       7.4
Energy                                          7.2
Consumer Staples                                5.8
Telecommunication Services                      0.0
Cash                                            1.5
                                             __________
Total                                          100.0
                                             __________



General description of Company's financial position and performance as at 30
June 2007


                                                             £m
Gross Assets                                                 85.1
Debt                                                         nil

Gearing                                                      nil

Capital structure

Ordinary Shares                                              47,839,850
Warrants                                                     12,805,290





Cumulative performance (%)


                         as at    1 month     3 months     6 months Year to date       1 year  Since portfolio
                                                                                               change 31/01/05
                    30/06/2007                                                                      cumulative
Share Price             140.5p      (2.4)          9.1          3.1          3.1         26.0             48.9
Diluted NAV             161.4p        0.0         14.0         10.9         10.9         36.6             75.3
Undiluted NAV           177.9p        0.0         16.8         12.7         12.7         44.6             91.4
Warrant 2010             64.5p      (1.1)         21.1          3.6          3.6         60.2            130.4
Price
MSCI India                          (0.6)         18.1         13.9         13.9         47.9            132.2





Discrete performance (%)


                            Year to 30/06/2007                       Since portfolio
                                                                     change 31/01/05
                                               Year to 30/06/2006         annualised
Share Price                               26.0                6.7               17.9
Diluted NAV                               36.6               14.3               26.1
Undiluted NAV                             44.6               16.9               30.8
Warrant 2010 Price                        30.2               22.0               41.2
MSCI India                                47.9               34.1               41.7



Total Return; NAV to NAV, Net Income Reinvested, GBP.  Share price total return
is on a mid-to-mid basis.  Dividend calculations are to reinvest as at the
ex-dividend date.



Source: Aberdeen Asset Managers, Factset, Financial Times and Fundamental Data











Please note that past performance is not necessarily a guide to the future and
that the value of investments and the income from them may fall as well as rise.
Investors may not get back the amount they originally invested.



For New India Investment Trust PLC
Aberdeen Asset Management PLC, Secretary
27 July 2007



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