India, who have never been placed higher than fourth on the ICC Test Championship table, could move to the second spot if they beat Australia in the four-Test series beginning in Bangalore on Wednesday.
Even if the four-Test series is drawn, India, currently placed fourth with 104 points, will climb to the third position, according to a complex method that determines the International Cricket Council (ICC) rankings.
In contrast, India have been placed seventh in ICC's one-day international Championship table, following the Champions Trophy one-day tournament in England last month.
"If India can win all four matches, their rating would climb from 104 to 115 points, while Australia's would fall from 129 to 119," ICC said in a statement.
"A narrower winning margin would obviously leave a bigger gap between the sides, but even if India only win the series by a one Test margin (1-0 or 2-1) it will boost their rating to 111 - still good enough for second place," it said.