Five-time World Cup champions Australia have been under-performers in the shortest format.
Their best showing in the tournament has been the runners-up finish in 2010 when they lost the final to England.
“Traditionally, we haven’t done as well as we would have liked in this format of the game,” Smith told reports at Kolkata at Australia’s opening news conference of the 16-team tournament.
“This is a tournament that has eluded us, so we are here to try and win it.
“We feel pretty settled. We have 15 guys who can give this tournament a pretty good shake.”
Smith, who leads the team in all the three formats, said they will be banking on their allrounders who have recently performed well.
He said inclusion of debutant leg-spinner Adam Zampa in the squad will boost the team’s bowling department on slow Indian tracks.
The 26-year-old captain said his team will adapt to the conditions quickly and will fully utilise their previous Indian experiences in the IPL to win the cup.
“We know what to expect from the conditions over here,” the Australia captain said.
"A lot of us have played here before, either in IPL or against India so we know what to expect and we're ready for the challenge."
Smith and five of his teammates in the World Twenty20 squad are part of various IPL franchises, and their familiarity with Indian pitches will auger well for them.
Australia will play favourites India on March 27 and Smith insisted that there is no added pressure on the side that recently lost the Twenty20 series 3-0 against the MS Dhoni-led side.
“I don’t think there is any pressure,” he said.
“I think playing a world cup ... playing in international cricket, there is always lots of pressure.
“So, for us, it’s taking each game at a time.”
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