India’s manufacturing sector is shifting from basic assembly to deep tech localization, driven by massive domestic demand and targeted policy incentives. In this exclusive interview, Rakesh Sethia, Fund Manager at HDFC AMC, breaks down the multi-year supercycle by explaining where the real structural winners lie across EMS, aerospace, and auto ancillaries, and how to navigate increasingly expensive valuations.
Edited excerpts from a chat with Rakesh Sethia:
