India's participation in the premier 50-over tournament, to be played in England and Wales from June 1, had been in doubt after its powerful cricket board fought the International Cricket Council (ICC) over revenue sharing.
"The team has been selected keeping in mind of the season post-Champions Trophy and you can't question future tours programme", he added.
The selectors considered left-arm unorthodox bowler Kuldeep Yadav before deciding a spin attack comprising Ashwin and Ravindra Jadeja, aided by part-timer Yuvraj Singh, should be sufficient.
Rohit Sharma who didn't play ODI Cricket from last year October has recovered from a thigh injury and made a come back for Champions Trophy based on the weight age to his round year performance.
The BCCI announced a 15-man Indian squad who will fight to defend the title. Mahendra Singh Dhoni will be the wicket-keeper in the side.
Commenting on the youngsters the chairman said, "Jasprit Bumrah and Hardik Pandya are youngsters we've been grooming".More news: Tom Brady Inks Endorsement Deal With Ashton Martin
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Pant, 19, was named among five players kept on standby, along with Suresh Raina, Kuldeep Yadav, Shardul Thakur and Dinesh Karthik.
Virat Kohli will join the selection meet via conference call to pick the India squad for the Champions Trophy. The fans have a lot of expectations from him and we are sure that Rohit Sharma will definitely score big in the ICC Champions Trophy, 2017.
India are scheduled to play two warm-ups matches against Bangladesh and New Zealand. The swashbuckling all-rounder is also in the squad for ICC Champions Trophy 2017.
Yuvraj Singh: Yuvraj Singh justified his place in the squad with his performance against England where he scored a 150 in one of the ODIs.
India will play their first game against arch-rivals Pakistan at Edgbaston, on June 4. R Ashwin, who is now recovering from a sports hernia, and Ravindra Jadeja can perhaps expect part-time assistance from Yuvraj Singh, who kept his spot after his ODI career was given a re-start in the series against England in January.