When International Olympic Committee (IOC) President Thomas Bach officially announces here on Monday (October 16) that cricket will end a 128-year absence from the Games in California, it will spark joyous celebrations.

The answer to why now, after cricket has not appeared at the Olympics since Paris 1900 when it featured a single match with Britain beating France for the gold medal, is simple.

The IOC has seen the draw cricket has for South Asian countries and is keen to get a slice of that. Olympic broadcast rights in India are currently worth around $20 million (£16.2 million/€19 million) but could increase tenfold once cricket is added.

For too long, India has remained on the periphery of the Olympic movement but will be front and centre for the next few days during the IOC Session, which is scheduled to start here on Sunday (October 15). It is a position they seem set to stay in for a long time.

There is a growing momentum behind a proposed bid from India for the 2036 Olympic and Paralympic Games, something Bach has not discouraged since he arrived in India's economic capital.

India and the IOC are becoming increasingly mutually attracted to each other.

At a time when, under Prime Minister Narendra Modi, India is beginning to realise its vast potential on the international stage offered by a population approaching 1.5 billion, including economically, diplomatically and militarily, sport is becoming an increasingly important way of promoting the country.

In Western Europe, the attraction of bidding for the Olympic Games may have lost its appeal due to public opposition to spending taxpayer money on mega projects, but in countries like India and in the Middle East, it remains an attractive way in which to introduce yourself on the world stage  and showcase how far your society has developed. 

It will be interesting to see how far this relationship between the IOC and India develops.

Just as hosting the Games has lost some of its allure, so has sponsoring it for European, North American and Japanese companies. Could Indian corporations like Tata or Infosys step in to fill the gap in The Olympic Programme portfolio?

India’s biggest company, Reliance Industries, would have special incentive to sponsor the IOC. It is owned by Mukesh Ambani, whose wife Nita is an IOC member, and has been hosting Bach in India so far this week.

Mukesh and Nita Ambani are India’s most powerful couple whose wealth is measured in the hundreds of billions of dollars. The family is said to be worth over $90 billion (£74 billion/€85 billion), ranking them as the wealthiest in Asia and among the richest in the world.

The couple's property portfolio includes Antilia, a private residence in Mumbai valued at $2 billion (£1.6 billion/€1.9 billion) and named after an island from 15th century Spanish tales of the Atlantic Ocean. On the top six floors is the Ambanis’ private residence where they entertained Bach on Tuesday (October 9).

The 27-storey structure is 173 metres tall, over 37,000 square metres and designed to withstand a magnitude eight earthquake. The structure's design incorporates the lotus plant and the sun and includes amenities such as a 168-car garage, a ballroom, nine high speed elevators, a 50-seat theatre, terrace gardens, swimming pool, spa, health centre, a temple, and a snow room that spits out snowflakes from the walls.

The Ambani’s company also own the Jio World Centre at the Bandra Kurla Complex, where I am sitting and writing this blog - surely the first time an IOC member has owned the building hosting the Olympics annual gathering?

Reliance Industries is now India's most valuable company by market value, a leader in energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles.

The company is a major sponsor of sport in India and owns the cricket team Mumbai Indians, five-time winners of the Indian Premier League and whose players have included the country’s biggest sports icon Sachin Tendulkar.

It was Reliance’s involvement in cricket that led to Nita Ambani becoming so deeply involved in sport.

"I was 44 when sport came into my life and gave me a whole new perspective and world view," she said.

"We owned the Mumbai Indians team in the Indian Premier League, and for two years they had been at the bottom of the table. In season two, I flew to South Africa to motivate and be with the team. That’s how it all started in 2009 - from those first team meetings, learning nitty-gritties of the game, living and breathing cricket every single moment."

Ambani was invited to join the IOC in 2016 and it is surely no coincidence that since becoming part of the exclusive club, the momentum gathered behind cricket returning to the Olympics.

Among those who are self-confessed fans of Nita Ambani is Modi, who has praised her for "showcasing the unique Indian phenomenon of staying rooted to one’s roots while also being committed to progress."

At the Bandra Kurla Complex, there is also the Nita Mukesh Ambani Cultural Centre, a state-of-the-art cultural centre featuring exhibition rooms, three theatres with ceilings decorated with Swarovski crystals, and various art installations showcasing leading Indian and international artists.

Seeing Ambani with Bach this week, has got me thinking: could she be a contender to replace him as IOC President when he steps down in 2025?

It is no secret that Bach would like his successor to be a female. His original choice was widely assumed to be Kirsty Coventry but talk of the Zimbabwean's candidacy has subsided in recent weeks as it has become clear she would lack the necessary support among certain part of the IOC membership.

Ambani ticks many boxes, particularly the one of not being a white European male. With wealth beyond most people’s comprehension, the status of being the unofficial head of world sport could appeal to her. 

At 59, she also has time on her side and, as a member appointed under Bach, would probably turn to him for advice. 

That would allow him to retain a measure of control over an organisation he has run with an iron rod for a decade now.

This growing romance between the IOC and India may still be in its early stages, but it could be heading for a long-term commitment.