Justifying the proposal, which is being opposed by a section of the ICC including South Africa, Srinivasan said the fears of India getting disproportionate control of the game are unfounded.
"The BCCI is quite happy to be involved with the leadership of cricket. We will embrace this ICC in the new structure, which will be good for cricket as a whole," Srinivasan told 'ESPN Cricinfo'.
"A strong India with a vibrant commercial structure is good for world cricket," he said.
Critics feel the proposed changes in the ICC power structure are a part of the BCCI's attempts to take over the governing body. But Srinivasan said the previous Members Participation Agreement on revenue-sharing was unfair to India but he did not specify how.
"I don't know how it got signed. I would not have signed the last MPA. There are a lot of disadvantages. We had made it clear that we could not sign the MPA in the current form," he said.
"The other members in the committee realised that India's concerns were legitimate and therefore it led to a discussion, out of which all these proposals came," he added.
The revamp would make India, Australia and England more powerful as far as decision-making in the ICC is concerned but Srinivasan said the voices of the other Boards would not be muzzled.
"When we met in Dubai on January 9, I made the presentation and we said this is what we are suggesting. If there are improvements or suggestions or some other model, please feel free to put them forward. Somebody has to prepare a draft for discussion," Srinivasan said.
"So three out of ten sat together and prepared a draft, others can go through it and suggest changes. In fact a lot of changes have already taken place. There has been lot of consultation and a lot of points have been dropped also and some changes have been made.
"There is no veto. There will be two other members at all times and anyone can become the chairman after the term of the first chairman gets over. And more importantly, this will be another committee of the ICC. It will report to the ICC board on which all the members sit. And the ICC board will be remain supreme, with the all the decision-making authority," he added.
Srinivasan also defended the move to do away with the Future Tours Programme and have direct bilateral agreements between boards.
"The current system is merely an indicative structure without any guarantees. It is not a legal document, it was never binding.
"The FTP bilateral agreement will be stronger. And we have already sat down during the Dubai meeting and discussed it with a number of countries, and the proposed FTP for going forward will work on the right cycle," he said.
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