"I am not looking for any such thing," said Ahluwalia, who was being talked about by local media as a potential candidate for the IMF post after the arrest of Dominique Strauss-Kahn on sex assault charges.
Ahluwalia, who was the first director of the IMF's independent evaluation office for three years until 2004, is currently deputy chairman of India's influential Planning Commission.
"We should wait and see what happens in this particular case," Ahluwalia told reporters on the sidelines of a conference in Mumbai.
The Times of India said that the arrest of Strauss-Kahn raised hopes of a non-European being named to the job of IMF chief should he quit. New Delhi has been lobbying for a non-European.