The Indian team, led by Manpreet Singh, would have wished for a title push, but their hopes were dashed in the semifinal by Japan, who beat them 5-3 on Tuesday.
Japan were devastating on the counter-attacks against India in the last four clash, as they set-up a final date with South Korea. India will play Pakistan for third place.
Harmanpreet Singh, a drag-flicker, was India's standout performer, converting both penalty corners and scoring a brace for the team.
After a thumping win against Bangladesh and a draw in the opening match against South Korea, India made a confident start.
The team was led by Balbir Singh Sr, who had established himself, by that time, as one of the greatest ever hockey players.
India was dealt a heartbreaking 1-0 loss against Pakistan in the final, but it was the fourth successive campaign that they had won a medal.
They had won the silver medal in the previous edition, and three successive gold medals at the three editions before that.
The India Hockey Team won the World Cup for the first and only time in 1975 when they beat Pakistan in Kuala Lumpur.