Chasing a stiff target of 304, the Australians rode on James Faulkner's brutal unbeaten 29-ball 64, which was studded with two fours and six sixes, to dramatically change the complexion of game and take his side home with three balls to spare.
Adam Voges made a valuable contribution of 76 not out from 88 balls, which was studded with seven fours.
It was a commendable show by the Australians and the Indians paid the price of the lack of quality death bowlers in a high scoring match on a good batting track at the PCA Stadium.
Earlier, Dhoni produced a magnificent late onslaught as he rescued India from a precarious 76 for four at one stage to single-handedly take the score to 303 for 9 after the home side were asked to bat. His unbeaten knock came from 121 balls with the help of 12 fours and five sixes. Virat Kohli was the other notable contributor with a 73-ball 68.
Faulkner ended the match in style with a six in the third ball of the final over as Australia reached 304 for six to win the match to the disappointment of the capacity crowd.
The two sides now moved to Ranchi for the fourth ODI on October 23.
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