India#39;s all-conquering men#39;s cricket team will pocket $14 million after lifting the T20 World Cup for a record third time, the country#39;s cricket board said on Tuesday.

The co‑hosts and pre‑tournament favourites swept aside New Zealand by 96 runs in Sunday#39;s final in Ahmedabad to become the first team to retain the trophy and the first to win it on home soil.

Cricket commands an unrivalled following in the world#39;s most populous country, with top players enjoying star status and the game serving as a rare unifying force in an otherwise diverse nation.

The Board of Control for Cricket in India (BCCI), the world#39;s richest and most powerful cricket body, praised the players, support staff and selectors for the historic achievement as it announced the cash reward.

The victory cemented India#39;s place among the most successful teams in the history of the format, BCCI secretary Devajit Saikia said in a statement.

The prize money will be shared among the entire team, including coaches and support staff.

The Indian team will separately receive $2.34 million from the International Cricket Council while runners-up New Zealand will earn $1.17 million.

Midnight celebrations broke out across the country on Sunday as delirious fans in blue Indian shirts took to the streets, beating drums and dancing to Bollywood hits.