The World Bank has pegged Indian economic growth to take over Chinese by 2012 on purchasing power parity (PPP) basis, but New Delhi has played down the projection by the multi-lateral agency saying the country is not in race with anyone. In its latest report on Global Economic Prospects, the World Bank has projected Indian economy to grow by 8.7 percent in 2012, faster than 8.4 per cent expected for China. The projections are based on PPP basis, which means that purchasing power of currencies are taken into account for measuring economic growth.