India, which came into the two-match series with 127 rating points, are now sitting pretty at 130 points, 11 clear of second-placed South Africa.
Australia had entered the series on 113 points and ended up conceding three ratings points, slipping to fifth position behind England (112).
Sri Lanka are placed third with 115 points.
This is Australia's lowest ranking since the ICC Test Championship rankings were introduced in 2003.
However, Australia will have a chance to regain its fourth position when it goes head to head with England in a five-Test Ashes series which starts in Brisbane on 23 November.
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