Slater accused players of having more interest in their purse from playing in the IPL than producing Test wins on foreign soil.
“I think they are majorly distracted by the IPL,” Slater told 2KY.
“These are the boys who make the big bucks they’re on over $1 million in their contracts.
“(MS) Dhoni makes US$50 million a year, (Sachin) Tendulkar is still managing US$35 million a year - this is the sort of the money these guys conjure up.
“These boys are all coming to the end of their career.
“They’ve got to get youngsters in there.”
The fourth and final Test between Australia and India kicks off in Adelaide on January 24 with the visitors yet to register a win.
“They weren’t that long ago ranked number one in Test cricket,” Slater said.
“They’re now number two and playing like they’re number 10.”
Slater has called for an overhaul of the Indian side and pushed for some new blood to join the Test ranks similar to the emergence of the new-look Australian side.
“I love the way (Virender Sehwag) approaches the game but he just hasn’t been able to reign it in and show good technique to get through on these pitches that are darting around a bit,” he said.
“All of these guys are averaging under 30 and a couple of them under 20 on this tour and that’s not good enough for the names that we spoke about and were excited about seeing.
“(VVS) Laxman’s got to go, he’s just so long in the tooth now.
“You see him in the field he can’t run and not scoring the runs, (Rahul) Dravid’s the same.
“Dravid fought hard for his 40 odd in that second innings but his technique is a struggling technique and he’s just turned 39.
“They have to get new blood in there.”
Slater labelled selectors as being too "scared" to send the vast majority of the playing group to the scrap heap fearing upheaval from the countries fans.
“They have that Rohit Sharma who’s an absolute youngster four years ago in their tour party, he should have played 30 Tests by now and he’s still waiting to get a jersey,” Slater said.
“The old boys now are clogging it up but the difference over there is the (players) are God-like creatures and the selectors are too scared to move them on because of how they’re regraded in their own country.”