Ranieri accepted the role of technical director and president of Club Italia after leaving AS Roma a few months ago, taking on an entirely new kind of job in Italian football.
FIGC president Giovanni Malagò opened the press conference by acknowledging the scale of the task after Italy's recent World Cup absences.
"I think the spotlight should be entirely on Roberto Mancini and Claudio Ranieri today. We feel the weight of responsibility given the three World Cups we haven't taken part in. A friend told me today that it's been 20 years since we played a knockout match at a World Cup, and that's telling," Malagò said.
Asked what the call to become technical director meant to him, Ranieri pointed to his tan as evidence of how unexpected it was.
"It's the crowning moment of my career, it's an unexpected call, as my tan shows. In my career I've taken on plenty of tough jobs, and this will be another one of that kind. I have two missions: to make people fall back in love with football, and to bring children, like my 12-year-old niece, back to watching the national team at World Cups," he said.
On the scale of the rebuilding job ahead, Ranieri said the priority was making the sport accessible again.
"It's hard to put a timeframe on it. Roberto will take care of what happens on the pitch, I'll take care of what happens outside it. In June, someone in the game told me children are paying too much to play football, and that can't continue.
"We can't afford to lose them to other distractions in this day and age. We have to bring them back to football by lowering prices," he said, adding that Italy's youth sides are performing well but that "the hardest part is the final step" into senior football.
On why Italian players struggle for game time at the country's biggest clubs, Ranieri said he could not dictate selection policy.
"Coaches at every level have to win, I can't force anyone to play someone. I hope everyone involved can help their teams play more Italians," he said.
Ranieri also addressed his past decision not to take the national team job while at Roma, saying he had no regrets.
"Every time I've chosen with my heart I've never regretted it, and this is the same. I couldn't break my contract with the club of my heart, or hold both roles, because there would have been too many conflicts of interest," he said.
On working alongside Mancini, Ranieri said he would not impose himself.
"I'll never go to Roberto to tell him this or that. If he feels he needs my opinion, I'll be happy to give it," he said, recalling attending Mancini's final home match when he won the Premier League with Manchester City.