The 20-year-old Lakshya Sen lost to compatriot Kidambi Srikanth in the semifinal on Saturday to settle for a bronze medal. Sen won the first game against Srikanth before losing the momentum in the final two games.
Former world no. 1 Prakash Padukone was earlier honoured with Badminton Association of India's Lifetime Achievement Award in 2018.
The 65-year-old, who is the first Indian to win the prestigious All England Championships title in 1980, is likely to be discharged later this week.