Massive Open Online Courses (MOOCs) have been a relatively recent entrant in the field of online learning, yet with their "massiveness" and "openness" were posited to have the potential to transform learning and development in developing countries by providing willing learners with ready access to knowledge and Higher Education (HE). Early research has shown that MOOCs have mostly been deepening, rather than broadening, access to education. Yet they have strengthened in numbers since their inception. The current article situates the discourse around MOOCs from the unique perspectives of India and China with three broad objectives of sharing MOOC development in these countries, conducting a high-level discussion of the potential value of MOOCs for their HE systems and critiquing current issues with MOOC development there. This discussion is timely, since MOOC discourse in the international literature has swung between trumpeting MOOCs as "disruptive" technologies to warning of the "MOOC delusion". We find that the concept and practice of MOOC in India and China are emerging. From the supply side, there is a need to focus on sound design, quality and accessible delivery, multi-lingual facilitation and efficient regulation of MOOC-credits, besides development of critical literacies for MOOCs in learners to realize the potential and promise of the MOOC.