Gambhir played a key role in India's two World Cup triumphs.
In October 2011, the ICC introduced this specific rule for ODIs, which Gambhir described as being "unfair" to finger spinners.
"One thing I would definitely change is the use of two new balls, especially in white-ball cricket," Gambhir said, as quoted by PTI, during the 'Rise to Leadership' talk show by the Indian Chamber of Commerce in Kolkata.
Besides impacting the finger spinners, many experts believe that a pair of new balls has decreased the likelihood of reverse swing as it allows the ball to maintain its shine for a longer duration.
"It is very unfair for finger spinners, who are not playing enough white-ball cricket because there is nothing for them. It is not right.
"The ICC's job is to ensure that everyone, whether a finger spinner, fast bowler, wrist spinner, or batter, has an equal opportunity to showcase their talents," he added.
Gambhir, a leading candidate to replace Rahul Dravid as India’s head coach, asked the apex body to reconsider the regulation.
"Taking that opportunity away from certain players is very unfair. Today, you hardly see any finger spinners playing white-ball cricket. Why? The blame lies not with them, but with the ICC.
"There is no reverse swing anymore because of the two new balls, and there is nothing for finger spinners or left-arm spinners.
"This is something I would want to change, and hopefully, it will change to create a balance between bat and ball," he remarked.
During his international career, Gautam Gambhir played under the leadership of some great names. While he refused to single out the best captain, Gambhir acknowledged that his finest cricketing years were during MS Dhoni's tenure as skipper.
"This is such a controversial question. I honestly don't want to give headlines, everyone had their strengths and weaknesses. I made my Test debut under Rahul Dravid and ODI under (Sourav) Ganguly.
"I had my best performance under Anil Kumble and I had my phase under MS Dhoni, and the longest I played was under MS. I enjoyed playing a lot with MS and the way he led the team," he said.
The 41-year-old also hailed the Bollywood superstar and KKR co-owner Shah Rukh Khan for his exceptional leadership.
"I had the privilege of working with the best IPL owner," Gambhir concluded.
(With PTI Inputs)