The result of third Test will have the major impact on the race to the ICC World Test Championship final.
The four-match Test series is currently level at 1-1, which makes the New Year Test even more important.
India would like to win the third test as it will give them a mental edge when they prepare for the Brisbane Test.
The Men Down Under, who overtook India to the top position after the change in regulations from maximum points to percentage points, are currently on 0.766 two-match into their four-match home series against India. India are on 0.722 playing their fifth series.
Ajinkya Rahane-led India turned the table on Australia after beating them by 8 wickets in Melbourne.
With the win they secured 30 points and levelled the Border-Gavaskar series. A win in the third Test would take them to 0.70 percentage points. However, a loss would cost them crucial pct points.
New Zealand, on the other hand, if manage to beat Pakistan 2-0 will be level with 390 points and 0.65 percentage points.
Under this scenario, ICC has mentioned that the team with less number of series will be ranked higher.
But in this situation it is likely that the most matches will come into play as both New Zealand and India have played five Tests each.