"India play good One-day cricket. So, I wouldn't like to put a finger on who is favourite to win the 5 October final. You've got to look after your own backyard and not worry about what other teams are doing," Butler said in an ICC news letter.
"Yuvraj Singh is a massive danger, especially with some of the short boundaries he can get," the 27-year-old added.
Apart from Yuvraj, the right-arm pacer tipped South African pacer Dale Steyn and Pakistan's Saeed Ajmal as players to watch out for.
"With only the top eight teams playing in the tournament, no matter who is in your group it's going to be a tough group which makes for an exciting tournament," he said.
On his team's prospects, Butler said with the return of some key players like Shane Bond, the Kiwis can put up a decent performance.
"I think with the return of a couple of key players and the amount of depth that's building in New Zealand cricket, it makes an especially exciting time for us. It will be good to see how we compete against the other seven teams," he said.
