The International Olympic Committee suspended India for allowing officials facing corruption charges to contest association elections in December 2012, saying it went against the Olympic charter.
India has since held elections in accordance with IOC rules, meaning the three Indian athletes competing in the Sochi Winter Olympics can now do so under the Indian flag.
Australia India Institute director Amitabh Mattoo says it could lead to greater support for the Olympics in India.
"Indian athletes have not done very well in the Olympic Games because of the disproportionate amount of energy, enthusiasm and money invested in just cricket," Professor Mattoo told SBS.
"But I think what you're seeing is probably a change and we are on the cusp of that change that you will begin to see many more Indians performing very well at the Olympics, and that snowballing into a larger interest in the Olympics."
Listen: Professor Amitabh Mattoo speaks to Darren Mara
