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India Globalization Capital Announces Financial Results For The First Quarter Ended June 30, 2013

For the period ended June 30, 2013, our cash and cash equivalents along with restricted cash was approximately $651,465.

As of June 30, 2013, the Company's stockholders' equity was approximately $14,463,452 compared with about $14,974,230 for the period ended March 31, 2013. The Company reported total assets of approximately $18,575,174 as of June 30, 2013 versus about $19,252,593 as of March 31, 2013.

About IGC:

Based in Bethesda, Maryland, India Globalization Capital, Inc. (IGC) is a materials and infrastructure company operating in India and China. In India we mainly engage in supplying and trading iron ore and in leasing construction equipment. In China we own and operate iron ore beneficiation plants and iron ore mines, and supply iron ore to steel mills, specifically in Inner Mongolia. We operate a shipping hub at the border of China and Mongolia. For more information about IGC, please visit IGC's Website at . For information about Ironman, please visit .

Forward-looking Statements:

Some of the statements contained in this press release that are not historical facts constitute forward-looking statements under the federal securities laws. Forward-looking statements can be identified by the use of the words "may," "will," "should," "could," "expects," "post", "plans," "anticipates," "believes," "estimates," "predicts," "intends," "potential," "proposed," "confident" or "continue" or the negative of those terms. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond IGC's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, our competitive environment, infrastructure demands, Iron ore availability and governmental, regulatory, political, economic, legal and social conditions in China and India.

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