While there are three other bidders in South Africa, Uzbekistan and Ireland, it is understood that India has FIFA's backing when it comes to winning the bid.
One among India's most successful coaches Subhash Bhowmick termed the move as a "very significant step" but would like to wait and watch what the government does.
Bhowmick also believe that the national coaches should be engaged in tapping the best talents among the U-14 who will go onto play for the country at the 2017 event.
"Government's job won't end by just signing the file. Similarly, AIFF should now bother about the junior team. Talented boys aged around 13 plus should be tapped from the length and breadth of the country. But we shouldn't have long and arduous camps as that will spell doom for little boys," Bhowmick, who has been one of the finest Indian strikers of his generation said.
"All members of the football family are overwhelmed. U-17 World Cup will improve the infrastructure and provide a boost to youth development programme. An international event of this significance can only be successful with givernment's support and co-operation. India would now become an important destination in the international football map and it will also help in growth of tourism industry and economy," Dutta said.