Following the revamp in International Cricket Council, India, England and Australia now effectively runs the game's apex body with the Asian giant being the wealthiest of the three boards on account of the massive interest cricket generates in the country.
"India can argue that they bring the most money into the game, and thus deserve more out of the precious ICC broadcasting rights, but skewing the distribution of the three boards that are already the most financially secure can only create a situation in which the rich get richer and the poor poorer," Strauss said.
Strauss feared that the Test cricket could "fizzle out" in the face of competition from Twenty20 tournaments such as the Indian Premier League.
"With only 10 teams playing Test cricket and four of those already struggling to stay competitive, the risk of the game degenerating to the extent that the result of many Test series is a foregone conclusion is both high and real," Strauss wrote.
One of England's most successful captains having led the country to two Ashes triumphs, Strauss added: "I can't help feeling that we have already reached the tipping point as far as Test cricket is concerned.