The 32-year-old Starc was diagnosed with a detached tendon in the middle finger and missed the third and final Test against the Proteas at Sydney.
Pat Cummins leads Australia fightback after Pakistan take early honours
The 30-year-old all-rounder's name, though, figured in the list of retained players announced by Gujarat Titans, his existing franchise, earlier on Sunday, the last day for player release and retention.
India could field three spinners against Australia in the final.
Apart from Renshaw's inclusion in place of Warner, there are no changes to the squad which beat Pakistan by eight wickets in the third and final test to sweep the series 3-0 last week.
Young leg-spinner Tanveer Sangha has been cut along with fast bowler Nathan Ellis and rookie all-rounder Aaron Hardie.
The five-match series will begin on November 23 in Visakhapatnam and will conclude in Hyderabad on December 3.
Chasing a revised target of 235 from 33 overs following two rain interruptions, Australia were struggling at 53 for three in nine overs when the heavens opened up for the third time in the day, forcing the onfield umpires to abandon the game as both the sides split points.
Sydneysider Warner went into the current series with question marks over his form due to a lack of test runs, but a rapidfire 164 in the first innings of the opening test in Perth erased any doubts over his position in the team.
Kohli has elevated one spot to secure the third position in the latest ODI Player Rankings
Boland experienced English conditions on a tour with an Indigenous team of cricketers in 2018 and Cummins said he was convinced the 34-year-old would not need to overhaul his bowling approach to succeed.
A one-on-one chat with the Master Blaster inspired 21-year-old opener Ibrahim Zadran to become the first player from Afghanistan to record a hundred in a World Cup match.
All-rounder Glenn Maxwell remains a key member of Australia's team for their upcoming Twenty20 World Cup title defence despite a recent poor run of form with the bat, according to paceman Josh Hazlewood.
Topley, if sidelined for a longer duration, will join the likes of right-handed batter Rajat Patidar and fast bowler Josh Hazlewood on the bench. While Patidar, nursing a heel injury, is set to miss at least the first half of IPL, Hazlewood is likely to miss the first seven matches.
Former Australia captain Aaron Finch believes the 285-run first innings partnership between Steve Smith and Travis Head made the difference in the World Test Championship final.
Photos from Day 2 of the 3rd Test played at the Adelaide Oval on Saturday
Matthew Short has also been called up as an extra batter while Travis Head recovers from a fracture to his left hand.
Australia's cricketing DNA is constructed by meticulousness and Pakistan's by explosiveness.
Marnus Labuschagne broke into Australia's 15-member squad for the 50-over World Cup in India at the last possible moment on Thursday on the back of his strong recent form while injured opener Travis Head was also included.
Australia reduced South Africa to 149 for six at the close of play on the fourth day of the rain-disrupted third Test on Saturday after declaring on 475/4 in pursuit of a victory that would give them a 3-0 series sweep.
Star batter Virat Kohli, who is the second leading run-getter in the World Cup with 354 runs after five matches, has improved three spots to be on joint fifth spot with Aussie left-handed opener David Warner (up two spots).
IMAGES from Day 1 of the opening Ashes Test played between England and Australia at Edgbaston in Birmingham on Friday.
Matt Renshaw says he will try to make a 'good impression'
Rohit Sharma jumped five places to sixth in the ICC ODI ranking for batters.
Travis Head smashed a brilliant 137 as Australia cruised to their sixth World title after outclassing India by six wickets in the final on Sunday.
Injured pacer Harris sidelined; Siddle dropped.
Virat Kohli climbed up two places to rise to the seventh position in ICC rankings for batters, after hitting a terrific 85 in India's six-wicket win over Australia.
South Africa dug deep to deny Australia a 3-0 series sweep with a battling draw in the rain-disrupted third Test at the Sydney Cricket Ground on Sunday, finally finding some fight on the final day of a miserable tour.
Chasing 146, Australia lost wickets at regular intervals. WI pacers Sheldon Cotrell and Alzarri Joseph dismissed opener David Warner (14) and Mitchell Marsh (3), reducing Australia to 21/2.
A crowd of more than 22,000 at his home Sydney Cricket Ground rose for a final ovation as Warner left the field.
The game on Friday had enough positives for India, mainly the performance of Mohammad Shami and Suryakumar Yadav, but few questions still need to be answered ahead of the World Cup, beginning October 5.
Afghanistan's Rashid Khan, who took a wicket each in the three matches, conceding a total of 62 runs off his 12 overs, overtook Sri Lanka's Wanindu Hasaranga for the top spot.
Pat Cummins took 10 wickets to lead Australia to Pakistan series triumph
On Thursday afternoon, class XI student Sameer Khan was making life difficult for the 6'4" tall Marcus Stoinis during Australia's net session ahead of the opening ODI against India.
After injuring his shoulder in the Royal Challengers Bangalore's opening game of, Reece Topley has been ruled out of the entire IPL season.
Indian batters Shubman Gill and Ishan Kishan made significant improvements in the latest ICC ODI Rankings for men's batters after their impressive performances in the ongoing Asia Cup 2023.
South Africa crushed Australia by 134 runs to cruise to their second victory at the World Cup, as Quinton de Kock struck back-to-back tons and Aiden Markram made a half-century before the bowlers ripped through the five-times champions on Thursday.
Finch's place in the team is under scrutiny ahead of Australia's World Cup title defence on home soil.
Long-serving opener Warner is set to return for the five-match ODI series starting on Thursday, which selectors will use to refine Australia's line-up for the 50-over World Cup starting in India in October.
Images from the ICC World Cup match between Afghanistan and Australia, at the Wankhede stadium in Mumbai, on Tuesday.