'Fabulous victory'

Thousands of supporters stood in line along the route as the team journeyed from a hotel in a garlanded bus towards a welcome ceremony at Delhi's Ferozeshah Kotla Ground.

The stadium was chock-a-block with several thousand fans who had gathered to greet the winning team.

Papers say India's victory points to a 'shift' in the world's cricket order

The ground was decorated with colourful balloons, and the Indian flag was flying high.

Addressing the crowd, Captain Mahendra Singh Dhoni thanked them for their support.

Officials of the Indian cricket board congratulated the team and each member was presented with a cheque of $145,000.

Earlier, appeals to parade the cricketers through the streets of Delhi on the way to the stadium were rejected by Indian cricket officials.

Indian Prime Minister Manmohan Singh complimented the team on its victory.

"It is a fabulous victory. This is victory based on teamwork and strong determination," he said.

The Indian cricket board has announced cash awards to the members of the winning team.