India vs China market cap is the rivalry that actually matters in Asia. China sits at $15.51T in 2025. India is at $10.56T and closing. A decade ago this was not a conversation. Now it is the conversation.
The two markets could not be more different. India runs on domestic retail money pouring into the NSE and BSE through mutual funds. China runs on policy signals, with state banks and giants dominating Shanghai and Shenzhen. One is bottom-up. The other is top-down.
Demographics favor India for the long run. Valuation discipline favors China right now, where prices are cheaper after years of selling. Pick your thesis. Just do not pick it from a headline.
The signal to watch is the crossover itself. If India's total passes China's, index providers and allocators will have to act, not just comment. Until then, the trade is patience: own the thesis, size it sanely, and let the compounding do the arguing.
Track both on the same chart, year by year. The crossover, if it comes, will be the financial story of the decade.