Seamers Joel Paris and Scott Boland are in line for international debuts after being named in the 13-man one-day squad to face India.
Australia will play five one-day internationals against the tourists from January 12-23.
Boland was added to the Test squad after Mitchell Starc succumbed to a foot injury.
“Scott has continued to impress the selection panel, having bowled very well for Victoria this year. He certainly deserves this chance at the top level,” selector Rod Marsh said.
“Joel is an exciting young left-arm bowler who swings the ball well and has bowled beautifully in the Big Bash League for the Perth Scorchers. He has had very good figures in short-form cricket and we really want him to make the most of this opportunity.”
South Australia all-rounder Kane Richardson returns to the team, having last played for Australia against South Africa in Canberra in 2014.
“Kane has had a taste of cricket at the international level and although that has been interrupted on occasions through injury we think he is ready to perform consistently for Australia,” Marsh said.
There was no room in the team for Brisbane Heat and Queensland star Chris Lynn or Test spinner Nathan Lyon, who has expressed interest in playing more limited-overs cricket.
Australia ODI squad:
Steve Smith (c), David Warner, George Bailey, Scott Boland, Josh Hazlewood, James Faulkner, Aaron Finch, Mitchell Marsh, Shaun Marsh, Glenn Maxwell, Kane Richardson, Joel Paris, Matthew Wade