Can Indian cricket become the next mighty team?

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When we lost the 2003 WC final badly people used to say that Aussies had a strong first class team and that top 40 players could get selected to other teams. It was amplified by John Davisons spectacular showing for Canada. Can we have that kind of a strong team that can perform in all seasons and conditions? Post IPL our standard has improved, infrastructure wnd academies are world class now.. we are beginning to produce super fast bowlers.