This article builds on the voluminous India-China literature, which still lacks a theoretical framework to understand India's and China's growth patterns. This article builds a simple theoretical model to understand India's and China's different growth patterns. An interesting stylized fact motivates this exercise: from 1985 to 2004—compared with India—China has had considerably higher rates of physical capital formation; much higher ratios of measured physical to human capital; and a more physical capital friendly public policy. To explain these facts, the article uses a one-sector growth model with two accumulating factors (physical capital [K] and human capital [H]).