Contents: Foreword. Introduction. I. Understanding Reforms: 1. Political Economy of Post-1991 Reforms/Suresh D Tendulkar and T A Bhavani. 2. Institutional Reform, Trade and Growth: The Experiences of India and China in a Global Economy/Brigitte Desroches, Michael Francis and Francois Painchaud. 3. Impact of Economic Reforms and Globalization on Engineering Education Sector: A Comparison of India and Chinese Scenarios/N J Rao and K G Viswanadhan. 4. A Comparative Study on the Implications of Economic Reforms on Poverty in India and China/C Ramasamy and K Lokanadhan. II. Fiscal Decentalization: 5. Financial System in India and China: A Comparative Study/Narendra Jadhav and Janak Raj. 6. Investment Climate and Productivity in Indian States/C Veeramani and Bishwanath Golder. 7. Export-led Growth: Characteristics Contrasting India and China/Sebastian Morris. 8. China and India: What Do Their Business Firms have to Say?/Rajalaxmi Kamath. III. FDI, Banking and Institutions: 9. FDI Flows in India and China/D Krishnamoorthy. 10. Financial Sector in China: Issues and Challenges/Surjit Singh. 11. Foreign Direct Investment: A Comparative Study of China and India/Anjali Kulkarni. 12. Myth and Reality of FDI Flows: Indian and Chinese Integration with the Global Economy/Dolly Sunny. IV. Agriculture, Trade and WTO: 13. Impact of China's Access to WTO on FDI in Wuxi/Fu Xianzhi and Cai Jianying. 14. China's Agriculture and WTO Accession/Jatinder Bir Singh. 15. Impact of Reforms on Agricultural Trade in India and China/Tulsi Lingareddy. V. Sectoral Studies: 16. Regulation of Employee Inventions within Patent Law: A Comparative Overview of China and India/Rajesh Sagar and Aditya Nagarsheth. 17. Emerging Challenges in Pension Policy: Perspectives from China and India/Kumudini Hajra. 18. Prospects of Ancient Medical Systems in India and China in Today's World/Arijit Dutta. 19. Energy-Environment Linkages in India and China: A Comparative Review of Issues and Challenges/Ashir Mehta. Index. This first-of-its-kind collection summarizes current trends in the economic scenario of India and China in the backdrop of globalization and outlines not only the goals and strategies for development but also the policies to achieve those goals. It provides a frame of development by addressing various issues such as how to expand the services sector, how to keep pace with the incredible growth of the manufacturing sector and how to ensure widest possible diffusions of the huge economic gains. Economic Reforms in India and China: Emerging Issues and Challenges presents the latest data and appraises issues pertaining to the economic reforms of India and China—two of the major contenders for global power. The two countries have followed different paths to economic growth and yet both have emerged as fast growing economies. Thus, it is interesting to know the comparative views of the growth stories of the two countries to see where they are heading. The volume brings together some of the most influential scholars in development economics from India and China. They address issues that include the governance as well as the historical perspective of globalization, poverty, inequality of income and the potential for conflict, agriculture, WTO and its relation with trade prospects, and the nature and characteristics of institutions and markets. The compilation is a significant addition to the existing literature on development and reforms, as it puts forward in a single volume, a vast range of academic concerns—those of economists, sociologists, policy makers, agricultural scientists and research scholars.