India's Prime Minister Narendra Modi has confirmed the world's most populous nation will bid to host the 2036 Olympic and Paralympic Games.

Speaking at the opening ceremony of the International Olympic Committee (IOC) session in Mumbai on Saturday, Modi said hosting the event is "the age-old dream" for India.

"Indians are not just sports lovers, but we also live it," Modi said. "India will leave no stone unturned in the preparation for the successful organization of the Olympics in 2036 - this is the dream of the 140 crore (1.4 billion) Indians."

"We want to realize this dream with your support. I am sure India will get constant support from IOC."

A city or region wasn't specified by Modi but Ahmedabad, which boasts the largest stadium in the world with a capacity of 132,000 and is named after the Indian Prime Minister, would be a likely contender as the main host city for the country's bid.

Indonesia and Mexico have previously expressed official interest in hosting the 2036 Olympics, and last month Poland's President Andrzej Duda told the IOC it wants to stage the Games.

No firm timeframe has been set by the IOC for when hosting rights for the 2036 Games will be awarded.

The 2036 Summer Games is the next available edition: Paris will host in 2024, Los Angeles in 2028 and Brisbane in 2032.

Modi also told the IOC that India would consider bidding to host the Youth Olympics in 2029.

"Sport is not just about winning medals but also winning hearts," he said.