India have declined hugely. Back in the early 2000s they were easily the 2nd best team in the world. Even as late as 2008 they were extremely competitive away from home, and of course by 2010 they were ranked 1. They've backslid all the way back to the '90s, where they were monstrous at home, but worse than Zimbabwe away. Even at home, they're vulnerable, they lost to England last summer. Things may have looked rosy for Indian cricket with the 4-0 win and the Champions Trophy win, but it will come crashing back down to earth when they get whitewashed by South Africa, then they tour England next winter for a 5 test series. By the end of that they could have lost 16 consecutive away test matches. Sixteen.
New Zealand around the early/mid 2000s were competitive. Now for the most part they're just pack fodder. West Indies still had three of the greatest ever cricketers in Lara, Ambrose and Walsh; now all they have is a soon-to-be 40 year old Chanderpaul and a couple of young fast bowlers, surrounded by a bunch of T20 specialists who want to waste their talents earning easy money playing for the Whoever Whoever's in T20 leagues. Sri Lanka are still just treading water, but only just. Once the big three batsmen and Herath disappear, which can't be more than 2 to 4 years, their decline will be unprecedented. Pak-istan have also declined. Their batting is shambolic, but their bowling is better than what it was around 2005.