Hogg, who was part of Australia's victorious 2003 and 2007 World Cup teams, isn't sure whether the host nation will be able to lift the trophy this year.
"I think the four teams who will reach the semi-finals are India, South Africa, New Zealand and Australia," Hogg said.
"And I think India and maybe New Zealand might get there (to the final).
"I really want Australia to win, but you just have those gut feelings that something is going to happen."
India were winless during their Test and ODI tour of Australia.
But they have enjoyed a remarkable form revival during the World Cup, posting crushing wins over Pakistan, South Africa, and the United Arab Emirates.
The defending champions will be aiming to continue their hot form against the West Indies on Friday, and Hogg likes what he sees.
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"I was a little bit worried about them emotionally because they hadn't won a game while they were here for the Test series and ODIs," Hogg said.
"(I wondered) whether that would have been a big strain on them behind the scenes.
"But they've really turned it around.
"That time where they've had a couple of months over here in Australia has been fantastic for them.
"They're preparing well and they're taking it seriously.
"I think India are going to turn their fortunes around and win the World Cup."
Hogg played seven Tests, 123 ODIs and 15 T20s during his decorated international career.
And the 44-year-old is still going strongly in domestic T20 ranks, helping the Perth Scorchers win a second straight BBL title earlier this year.
Hogg will travel to India after the World Cup to link up with Kolkata for their IPL campaign.
-AAP