While India lost 7 ranking points, Australia gained 8 that put them a fraction of a point behind India.
Adelaide: The humiliating 4-0 whitewash at the hands of Australia on Saturday resulted in India dropping a rung to third spot in the ICC Test rankings with Michael Clarke's team breathing down their neck just a fraction of a point behind in the table.
India, who entered the series in second place on 118 ratings points, have fallen to 111 ratings points while fourth-ranked Australia have boosted their standing in the championship table after gaining eight ratings points which put them alongside their rivals, the ICC said in a statement.
However, Mahendra Singh Dhoni's men are still ranked above Clarke's men by a fraction of a point. When the ratings are calculated beyond the decimal point, India have 111.10 ratings points while Australia are on 110.80 ratings points.
Nevertheless, Australia will have a chance to move ahead of India when they travel to the West Indies in March to play in a three-Test series which will start in Barbados on April 7.
There, Australia will need to win the series by 1-0 or better to achieve the number-three position on the table.
Since December 16, 2010, India have dropped from 129 ratings points to 111 ratings points.
In the last 13 months, India drew with South Africa (1-1) in South Africa, beat the West Indies in West Indies (1-0), lost 0-4 to England in England and beat the West Indies (2-0) at home before losing 0-4 to Australia in Australia.
The Test Championship table, unlike the ODI Championship table, is updated only after the end of the series.