Here is a comparison of England's performances vs India's from 1/1/2002 onwards.
Against the top teams, India has played 43 matches to 39 by England. India has won 22 matches, lost 17 with no result in 4. England during the same period has won 17 matches, lost 21 with no result in 1.
India has a positive record against England, Pakistan, South Africa and Sri Lanka, an equal record against the Windies and a negative one against Australia and NZ. England has a positive record against Pakistan, South Africa and Sri Lanka and a negative one against India, Australia and NZ.
India's overall win-loss is >50%, England's is <50%.
India's performance in major tourneys: Winner of the Natwest, joint winner of the ICC Champions trophy, WC 2003 finalist. England: Natwest finalist, nowhere in the Champion's trophy, nowhere in the WC, recent Natwest winner.
England's ranking is 3 while India's is 8. Very clear and sensible! Clear as mud, more like!!!
I am not even saying India should be at 3, but it's ridiculous to put India at 8 and England at 3 and give credit to England for getting battered at the hands of the Aussies time and again.