Gravitation and inertia are fundamentally related according to general relativity, because they are considered to be two different aspects of the same thing.
Suppose that you tie a rock to the end of a piece of string, and use the string to whirl the rock around in a circle, above your head.
You can feel a tension in the string, and you have to grip it hard stop it from slipping out of your hand.
- In your stationary inertial reference frame, we can say that the tension in the string is caused by the rock's inertial mass. The rock's inertia is trying to make it travel in a straight line, and the string tension is constantly deflecting the rock to force it to move in a circle.
- But in a frame that rotates in "sync" with the circling rock, centred on your location, the "inertia" explanation doesn't work, because in this frame, the rock isn't moving. It's just hanging there, at the end of your piece of horizontal string, as the background stars whirl beneath it. What we say now, is that in the rotating frame, there exists a special sort of outward-pointing radial gravitational field, caused by the surrounding rotating shell of matter (the background stars). In this frame, we say that the field pulls the rock directly away from the central rotation axis, and the rock is suspended in the field by the string. Now, the tension in the string is due to the gravitational mass of the rock.
Both explanations relate to exactly the same physical situation, just described from two different points of view. The inertial explanation and the gravitational explanation are dual, and equivalent.
This gives us the Principle of Equivalence ("PoE") of inertia and gravitation.
Ernst Mach
In Mach's explanation, the inertia of a body is a measure of the interaction of the body's field with the background field. Since inertia is then not decided solely by the properties of the body in isolation, but in conjunction with all other bodies, we have the relativity of inertia, and Mach's principle.
These tell us that the amount of forces needed to accelerate a baseball relative to the outside universe should be exactly the same as that needed to accelerate the outside universe (complete with all its fields) relative to the baseball (an idea proposed by Berkeley). This idea that a body's inertial resistance to acceleration and rotation is a relative rather than an absolute property, then gives us the General Principle of Relativity, which applies the relativity principle to all forms of motion whatsoever.
Einstein's alternative derivation of gravitational time dilation
In a modern implementation, the communication between masses regarding inertia is done by the gravitational field. We can double the strength of the interaction (and double a body's inertia), either by doubling the amount of matter in the body, or by doubling the amount of matter in the outside universe. Which is a little bit impractical.
However, since inertia is now being described as field-mediated, we can "fake" the effect of doubling the amount of background matter by doubling the background field intensity ... by simply piling up lots of matter in the immediate vicinity of the test object.
If we do this (said Einstein in his 1921 Princeton Lectures), the inertia of the test mass increases. If the test mass is the flywheel of a mechanical pocket-watch, the flywheel rocks from side to side more slowly for the same applied force, and the watch ticks more slowly. Since we require all idealised timepieces to tick at the same rate as each other, it is not just the pocket-watch that gets slowed, but also quartz resonance clocks, biological clocks, candle-clocks, other chemical clocks, atomic clocks, light-clocks and nuclear decay. By increasing the background inertial-gravitational field (said Einstein), we get the Machian description of gravitational time dilation.
Inertial stuff = gravitational stuff (again)
And, of course, if the Earth has an inertial field that causes a variation in timeflow and lightspeed, then Huyghens principle requires that light be deflected towards the region of slowest lightspeed (Einstein, 1911), and matter (if it contains EM energy in equilibrium), needs to be deflected similarly. So the Earth's field should attract matter and light. If we start with the relativity of inertia, and develop the idea into the idea of an "inertial field", what we end up with is gravitational effects and the gravitational field.
What makes gravitational and electric charge different
The reason why gravitational charges and electric charges have different cumulative behaviours is difficult to explain, but it relates to the fact that "electric" charges have two polarities, while "gravitational" charges only have one.
If the universe contains lots of gravitational charge, the effect is cumulative. Gravitational seems weak because the effect on space of adding a gravitational mass to a region, compared to the cumulative effects of all the other masses in the universe, is proportionally small.
On the other hand if we have astronomical amounts of electric charge in the universe, that fact that half of it seems to be positive and half negative means that, to a first approximation, the more you have, the more evenly it tends to cancel out. So the effect of adding an electron to a region, as a proportional change in the electric background field, is greater.
I appreciate that that last bit is not a very satisfactory answer, but it's probably the best you'll get without getting into hypotheticals such as the Dirac Large Numbers Hypothesis.