India is probably the top revenue source for the ICC which is why they deserve the lion's share. However, the BCCI needs to utilize that revenue more efficiently.
No one is going to deny this. Even I agree that Indian market accounts for more than 60% of the ICC revenues. But the question here is, should the ICC given them a disproportionate share of the funds. We are not talking about revenue that originate from the Indian bilateral tours. We are talking about the revenue from ICC tournaments. Take the example of the T20 World Cup. A total of 16 countries participate in the main tournament, and dozens more take part in the qualifiers. Ideally, the revenue should be divided equally between these 16 countries, with another share going to those teams which failed to quality. But the BCCI want half of the revenue from the world cup. Is this fair?
The other boards are already agreeing to a lot of unjust demands made by the BCCI. They allow their players to participate in the IPL, while the BCCI never allows the Indian players to participate in the other leagues. No major tournaments are conducted during the two-month IPL window, while none of the other leagues, such as BBL and CPL enjoy such largesse.
And the BCCI receives more than $1 billion every year from the IPL (sponsorship, TV rights, gate collection.etc), which they don't share with any of the other boards. And the BCCI is not satisfied even after all this and they want a larger share of the revenues from ICC tournaments as well!