The expansion of the Chinese and Indian firms’ global footprints in recent years reveal their growingly evident strategic intent and emerging capability, and calls for the need to (re)examine how emerging multinational enterprises’ (EMNEs) internationalization strategies could be conceptualized with implications for human resource management (HRM). This chapter reviews patterns and strategies of internationalisation of Chinese and Indian firms. It assesses their role in the global economy by, for example, leading innovation in products and services. The chapter also identify challenges they are likely to encounter in entering and performing in the global market, as well as implications for organisational and HRM capability building. We identify a set of research avenues for future investigation to shed light on how institutional and cultural factors at various levels and Chinese and Indian multinationals’ strategy may impact various aspects of HRM practices. Further, the likelihood of collaborative business development initiatives between Chinese & Indian multinationals will be considered with reference to the potential impacts on the global economy.