These players would comprise six squads of 15 players each, where each squad would comprise six international players and nine Indian players.
Indian players who would now play for the ICL are JP Yadav, Deep Dasgupta, Dinesh Mongia and Reetinder Sodhi.
The list of the players was unveiled here at a function where Kapil Dev, chairman of the ICL executive board, Sandeep Patil, Kiran More and EAS Prasanna were present.
Youngsters Ambati Rayudu and Abhishek Jhunjhunwala have also signed with the league.
"I think this is the cream of the country," Kapil Dev said and encouraged more youngsters to take such a 'courageous' decision and join the league since the BCCI - the Indian Cricket Board, has decided to ban all those who would be associating themselves with the league.
The ICL that boasts of former West Indian Skipper, Brian Lara, on its side introduced Mongia with the league.
Mongia, who was part of the Indian squad in the recent Bangladesh tour, said that he has joined the league, as he wants to play cricket.
"I play cricket wherever I can, in England, for Punjab, for India. This is another opportunity to play cricket," Mongia added.
The ICL envisages expanding the number of squads to 12 in the next three years and also admitted to be in negotiation with Shane Warne, Glen Macgrath and Chris Cairns.
The Indian players who have signed up include: Dinesh Mongia, JP Yadav, Deep Dasgupta, Dheeraj Jadhav, Ambati Rayudu, Abbas Ali, Abhishek Jhunjhunwala, Avinash Yadav, Reetinder Sodhi, Hemanth Kumar, Inder Shekar Reddy, Ishan Malhatra, Kaushik Reddy, Laxmi Shukla, Manish Sharma, Mohammad Ibrahim, Monish Mishra, Robin Morris, Alfred Absolem, Ali Murtaza, Shashank Nag, Shibsagar Singh, Abhijit Shetye, Devendran, Sumit Kalia, Dakshinamoorthy Kumaran, Taduri Prakash Sudhindra, Sarabjit Singh, Thirunavakarasu Kumaran, Ganapathi Vignesh, Devishetty Vinay Kumar, Yashpal Singh, J Hariesh, R Satish, Rajesh Sharma, Ranjeet Khirid, , Sachin Talpade, Shalabh Srivastava, Shreyas Khanolkar, Subhojit Paul, Sumit Kalia, Subhomoy Das, Raviraj Patil.