The award was presented by the Honda Motor India Pvt Ltd (HMI). The honour recognises the academic performance of students and includes a scholarship equivalent to USD 3,000 each, a release issued by HMI said.
The winners will be sent to Japan for higher studies, it said.
The selected students are from six IITs - Delhi, Bombay, Madras, Kharagpur, Kanpur and Hyderabad. They were selected on the basis of their Cumulative Grade Point Average (CGPA), essays and two rounds of personal interviews.
Japanese ambassador in India Kenji Hiramatsu said India and Japan enjoy a fulfilling bilateral relationship.
"I hope that through this opportunity, you will experience Japan's advanced technological system and research, aimed at contributing to social causes," he said.