Interim Management Statement

New India Investment Trust PLC
24 January 2008

New India Investment Trust PLC

Interim Management Statement - 3 months to 31 December 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 October 2007 to
31 December 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 11 December 2007, the trust sent its interim report and accounts for the six
months to 30 September 2007 to shareholders.



The Board is not aware of any significant events or transactions which have
occurred between 31 December 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 31 December 2007
                                                 %
ICICI Bank                                      9.1
HDFC Bank                                       8.9
Satyam Computer                                 7.3
Infosys Technologies                            6.7
Grasim Industries                               5.6
Tata Consultancy Services                       4.6
Hero Honda                                      4.4
GAIL                                            3.9
ABB India                                       3.6
Bharat Petroleum                                3.4
Sun Pharmaceutical                              3.3
Nicholas Piramal                                2.9
Tata Power                                      2.9
Bank of Baroda                                  2.7
Motor Industries                                2.7
                                             __________
Total                                          72.0
                                             __________
Total number of investments                     30



Sector allocation as at 31 December 2007 (%)
Sector                                         Trust       Benchmark
Financial                                      22.1          28.7
Information Technology                         20.5          11.2
Healthcare                                     10.2           2.9
Utilities                                       8.9           5.8
Consumer Discretionary                          8.7           3.7
Materials                                       7.9           7.9
Consumer Staples                                6.9           3.9
Industrials                                     6.1          12.3
Energy                                          5.9          19.1
Telecommunication Services                      2.4           4.5
Cash                                            0.4            -
                                             __________    __________
Total                                          100.0         100.0
                                             __________    __________



General description of Company's financial position and performance as at 31
December 2007


                                                             £m
Gross Assets                                                 106.8
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       1 year               Since portfolio
                                                                                                change 31/01/05
                     31/12/2007                                                                      cumulative
                                                                                       3 years
Share Price              165.5p        8.5          9.6         17.8         21.5         83.6             75.4
Diluted NAV              197.3p       10.2         14.8         22.2         35.5        115.4            114.2
Undiluted NAV            223.2p       11.5         17.0         25.5         41.5        145.4            140.3
Warrant 2010              71.3p        2.5          7.1         10.5         14.5        275.0            154.5
Price
MSCI India                            11.1         26.2         49.4         70.2        246.8            246.8





Discrete performance (%)


 Year ending:                      31/12/2007                                          Since portfolio
                                                                                       change 31/01/05
                                                      31/12/2006                            annualised
                                                                         31/12/2005
Share Price                              21.5               10.1               37.3               21.2
Diluted NAV                              35.5               11.0               43.3               29.8
Undiluted NAV                            41.5               12.8               53.8               35.1
Warrant 2010 Price                       14.5               32.4              147.4               37.7
MSCI India                               70.2               32.5               53.9               53.2



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. NAV returns based on NAVs with debt valued at par.



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

24 January 2008




                      This information is provided by RNS
            The company news service from the London Stock Exchange