The shareholders of JPMorgan Indian Investment Trust plc authorized a share repurchase program at its Annual General Meeting on January 29, 2013. Under the program, the company will repurchase up to 16,393,713 ordinary shares and 914,753 subscription shares, or if different, that number of ordinary shares or subscription shares which is equal to 14.99% of its issued share capital of the each relevant share class. The minimum price which may be paid for an ordinary share and subscription share shall be 25 pence and 1 pence, respectively.

The maximum price which may be paid for a share shall be an amount equal to, 105% of the average of the middle market quotations for the share taken from and calculated by reference to the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the share is purchased, or the price of the last independent trade, or the highest current independent bid. Any purchase of ordinary shares will be made in the market for cash at prices below the prevailing net asset value per ordinary share. The program will expire on July 28, 2014 unless the authority is renewed at the company's next Annual General Meeting or at any other general meeting prior to such time.

As of December 20, 2012, the company has 119,911,118 ordinary shares and 6,102,425 subscription shares and 10,546,788 ordinary shares in treasury.