India is in danger of losing out on hosting two of the biggest global tournaments - the 2021 Champions Trophy and the 2023 World Cup. 

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International Cricket Council (ICC) is exploring alternative host countries for these events due to a lack of tax exemptions from the Indian government.

Indian government has not approved a tax exemption to the ICC that could mean revenue losses of at least $100 million for the international cricketing body. 

While ICC said that it's management, supported by the BCCI, will continue the dialogue with the Indian government to find possible solutions- the ICC board, on Friday, directed its management to look out for alternative venues if the issue is not resolved.

"The Board expressed their concern around the absence of a tax exemption from the Indian Government for ICC events held in India despite ongoing efforts from both the ICC and BCCI to secure the exemption which is standard practice for major sporting events around the world," the ICC said in a media release, after the board meeting in Dubai on Friday.

"The Board agreed that ICC management, supported by the BCCI will continue the dialogue with the Indian Government but in the meantime directed ICC management to explore alternative host countries in a similar time zone for the ICC Champions Trophy 2021."

ICC's chief executive officer, David Richardson, and management have been asked to explore alternative venues in the same time zone as India - which brings Sri Lanka and Bangladesh into the picture. 

Indian government has not yet approved the tax exemption for the T20 World Cup 2016 hosted by India. 

According to ESPNCricinfo, a final decision on whether India will host the Champions Trophy will be taken by the end of 2019.