India will overtake China to be the fastest growing large economy in 2018 and the country’s equity market will become the fifth largest in the world.
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 prospects of strong long-term growth.
“India will become the fastest growing large economy in the world, eclipsing China. Indian equity market will jump to become the fifth largest in the world,” the report noted.
At a time when developed economies are cheering 2-3 per cent growth, India is focused on breaching 7.5 per cent. Moreover, India also benefits from a favourable contrast to other emerging markets. On the other hand, China is downshifting to a slower pace of growth.
