India will become the fastest growing large economy in the world, eclipsing China, in 2018 and the country's equity market will jump to become the fifth largest in the world, a report says. According to a Sanctum Wealth Management report, when the rest of the world offers low growth and insufficient structural change, India, by contrast, is seen as a reforming economy with the prospect of strong long-term growth.Sanctum is a Delhi-based professional wealth management company. At a time when developed economies are cheering 2-3 percent growth, India is focused on breaching 7.5 per cent, the report said.Moreover, India also benefits from a favourable contrast to other emerging markets. In particular, the fact that China is down-shifting to a slower pace of growth.However, if inflation or rates rise, markets are not likely to register further gains. Muted earning could also impact market performance, it said.As per the report, a major factor that has changed is that the domestic buyer now sets market prices. Domestic mutual funds bought equities worth 15.3 billion US Dollar against 8 billion US Dollar by foreign investors in 2017.The report that identifies various big-picture trends at play this year in the domestic and global economy, noted that Aadhaar, Jan Dhan, Demonetisation, GST, are working to create a new inclusive infrastructure in India.