With a population of 1.3 billion in the PRC and 1.2 billion in India as of 2010,
both are mammoth countries not only in Asia but also in the world, accounting
for 19.6% and 17.1% respectively of the world’s population of 6.8 billion.
Indeed, they are the two largest countries in the world in terms of population
size. For the past two decades, these two giants have undertaken fairly extensive
market-oriented economic reforms and have been growing very rapidly
with an annual growth rate of around 10%. Interestingly, both countries have
recently embraced “inclusive growth” as an important feature of their development
plans.