“India is undergoing a structural change as an economy. When India s GDP per capita rises, which I anticipate will happen exponentially, we cannot just limit ourselves to large cap names because there are only about 200-300 of them.”
"I definitely think smallcaps have rallied perhaps more than some of the fundamentals justify. It is all liquidity driven, as we have seen a lot of flows into smallcap funds and a small amount of money can really push up the valuations and the prices and that is what s happening. Midcaps also have seen some of that froth building up a little bit, but smallcaps definitely have had frothy pockets."