The Indian cricket team's disastrous World Twenty20 campaign pushed it to third place in the ICC T20 rankings while this year's champion West Indies jumped five places to grab the second spot.
India, ousted at the Super Eight stage, are a point behind the Caribbeans in the rankings which continue to be led by this year's World T20 runners-up Sri Lanka, the ICC said in a statement.
In the rankings for players, Suresh Raina and Virat Kohli held on to their respective fifth and 10th positions despite the team's overall poor show.
West Indies' success in the event was reflected in the player rankings as well with man of the match in the final, Marlon Samuels and impressive young spinner Sunil Narine, both recording rises of 20 places in the batting and bowling list respectively.
Samuels, who hammered 78 and took one for 15 in the 36-runs victory over the host Sri Lanka, leapt 20 places to 18th in the batting rankings and was up seven places to equal ninth in the all-rounders' table. Both represented career-best ratings as did his improving bowling ranking of 60th - up 19 places.
Sunil Narine's three for nine in the final capped an impressive tournament and his 20 place move took him to equal 13th in the bowling rankings with a career best rating of 638.
Chris Gayle, who dominated the event's semi-final against Australia, moved into second place in the batting rankings behind New Zealand's Brendon McCullum.
Gayle leapfrogged player of the tournament Shane Watson, of Australia, who dropped to third in the batting rankings but maintains his position as number-one all-rounder and is still sixth in the bowling rankings.