JM Financial AMC CIO Satish Ramanathan believes India’s smallcap and midcap story is far from over. In this insightful conversation, he highlights how sectors like small finance banks, EMS, commodities and textiles have delivered strong Q4 earnings performances. While rising input costs may create some short-term volatility, Ramanathan says India’s long-term manufacturing opportunity remains extremely attractive. He points out that India continues to attract strong FDI inflows due to low power costs, labour availability and improving manufacturing competitiveness. As global outsourcing shifts toward India, employment, consumption and industrial growth could accelerate further. He also says market valuations have cooled after a long consolidation phase, creating a strong base for future growth. Are smallcaps preparing for their next big rally? Watch the full conversation to know more.