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This book is one of the first to provide a fully-fledged and detailed comparative perspective on the growth of major industries in China and India. The focus is explicitly on the indigenous firms and clusters that are emerging as the new world industrial leaders. It clarifies the fundamental differences in the competition and organisation between the two countries, and explores the institutional context that created these gaps. The industries discussed range from the traditional, such as textiles, electronics and automobiles, to areas that have developed more recently, such as ICT-related services and electric vehicles. Specific focus is placed on the role played by individual skills, organizational R&D, and inter-firm networks in capability creation. Other East Asian experiences are used to highlight the new realities of super populous ex-agrarian countries in the 21st century. This is a reliable analysis by an international group of industrial field researchers based on their repeated surveys in both countries.