India stalled all bilateral ties with Pakistan in the wake of the 2008 terrorist attacks on Mumbai, which New Deli blamed on militants based in Pakistan.
Pakistan toured India for a short limited overs series at the turn of this year (December-January) but that could not revive the ties, regarded as better than the Ashes played between Australia and England.
Being the financial hub and one of the most sought-after teams, India have a busy cricket schedule - a fact which do not allow them to play a long series with arch-rivals.
Sethi said Pakistan were more than willing to tour India.
"If they are not coming to Pakistan, we are willing to tour them," Sethi told reporters on the sidelines of the Pakistan-Sri Lanka one-day international here.
"India owe us two home series as per the Future Tour Programme and India-Pakistan series is the most sought after, millions of people are waiting for it."
Sethi, who took over in July this year, hoped things will shape up after general elections in India in May next year.
"I think the Indian board is waiting for elections in their country and our prime minister (Nawaz Sharif) is hoping that if his Indian counterpart (Manmoham Singh) tours Pakistan then the matter of cricket will also be raised," hoped Sethi.
India last toured Pakistan in 2008 for the Asia Cup and their last bilateral visit to Pakistan was in 2006.
Sethi said Pakistan will adopt a wait-and-see policy on touring Bangladesh where political situation is more tense since last week's execution of Islamic hardliner Abdul Quader Mollah.
Sri Lanka, whose team is due to travel to Bangladesh on January 24 for two Tests, two Twenty20s and three one-days, have announced a security appraisal before the tour.
Bangladesh are due to host Asia Cup from February 24-March 7 and then World Twenty20 from March 16-April 6 next year - both under clouds.
"It will not be our decision," said Sethi. "Asian Cricket Council will decide on the Asia Cup and International Cricket Council will take a decision on the World Twenty20, so we will wait and see on that."
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@Hafiz: Afghanistan, Nigeria and Pakistan are the only three countries in the world with Polio still there. India has completely eradicated Polio by 2012 and even Bill Gates actually praised India's achievement. But still Pakistanis want to believe the contrary. I pity you guys. Anyway the Indian team would not visit Pakistan is only due to the fact that they will be killed in some explosion (the same fear like any other team England Australia etc.) See this your team is willing to come to India as they know that Indians wont attack the Pakistani team ever. And I am proud about this fact.
No matter how many times India shames us by not accepting our going down on kneels request, we will keep on begging for bheeg. Whatever India puts in our bowl will last long enough for us to survive. India, kuch toh de dey.
"India owe us two home series" Why thaose can't be hold in UAE? Only reason that comes into my mind of Indian refusal to visit UAE is that they can't afford further defeat-humiliation right now.
We don't want to give our neighbors another shock till they recover from humiliating ODI defeat in South Africa.
Who has invited you?
Get polio vaccine first.