"Even now, this team is good enough to beat anybody. This is the best team we have," Srinivasan said.

The BCCI chief said the team had every chance to come out triumphant in the Melbourne Test but somehow the hosts managed to win.

"We definitely felt they would do well in Australia, and I think even if you take the first Test, there were moments when I think we were on top and for some reason or the other the Aussies got away," he said.

Srinivasan also said the team does not deserve the scathing criticism that was coming from all quarters.

"I think one cannot really run them down. So little bit of luck, rub of the green as they say, and I think results would be different. We cannot win every match, series all the time, so one has to allow for that," he said.

Srinivasan, however, asserted that he was not defending the team for the crushing defeats it has suffered in the three Test so far.

"I am not defending the performance of the Indian team. I would wait and see."

India have one Test, two Twenty20 Internationals and a tri-series, also involving Sri Lanka, to salvage the pride.