Playing Olympic champion Fan Zhendong in the first singles, Sharath took the first game 11-9 with a superlative display.
But the Chinese regrouped to outwit the Indian 11-7 11-7 11-5 in the next three games as India fell 0-2 behind in the tie.
The 24-year-old Manav then played the second singles but found the going tough against Chuqin, losing 9-11 6-11 9-11.
On Monday, the Indian women’s team comprising Manika Batra, Sreeja Akula and Archana Kamat, prevailed over higher-ranked Romania 3-2 in a thrilling tie to enter the quarterfinals.