Lee is hoping for the next Border-Gavaskar Trophy to see the light of the day despite COVID-19 pandemic.
Team India became the first Asian side ever to win a Test series in Australia when Virat Kohli's men clinched the four-Test rubber 2-1 in the 2018-19 season.
Kohli and company are set for another difficult tour of Australia in December-January, with the Test series being the main attraction on a trip also scheduled to feature six limited-overs matches.
Speaking to the Times of India, Lee, who was part of some of the most memorable Test encounters with India, said people now really look forward to Australia facing up against the subcontinental giants and the rivalry is now par with that fought for the Ashes versus England.
"The tour is so important. Anytime that India gets the chance to tour Australia or vice versa. It always was Australia versus England in the Ashes. That was always the pinnacle. I do believe now that this (India vs Australia) is definitely at par," he said.
"When Australia play India in a Test series, that's definitely right up there with the best competition to watch and the best rivalry. There's definitely no love lost, but the two nations appreciate the cricket which they play."
Fans definitely await greater clarity on that Test series amid the ongoing COVID-19 pandemic, cricket's global shutdown due to which has made the lucrative India visit doubly important to Cricket Australia (CA).
"In the situation that we've been through with COVID-19, I think everyone has been in their house for a number of months. If there is some way that we can get cricket played in Australia, which I'm sure that we can, in a number of months' time, I think it's really really important for world cricket," said Lee.
"It's very important for Australian cricket, but also, it's important for the players. The players (India and Australia) love playing against each other. I see this being the silver lining of what's been a pretty dark, low end of summer and winter for us. Obviously for you guys too."
"But it's been a horrible time in the world and I know we can't change the deaths, we can't change what has happened, but hopefully, playing sports will put a smile on people's faces," he added.
Team India is yet to return to training since March, as the pandemic is peaking here and that has made arrangements for travel and proper practise camp very difficult.
Once the restrictions are further lifted, however, it is believed the Australian tour could be held amid bio-secure arrangements, which recently also allowed for the return of international cricket in the UK via the start of the England-West Indies Test series.