The award was given by Minister of State in Prime Minister's Office V Narayansamy.
"The award was conferred on him for his lifetime contributions to missiles and aerospace technologies and also in recognition of his pioneering contributions towards the growth of astronautics in the country," a DRDO release said.
A champion of indigenisation, Saraswat has immensely contributed to the indigenous design and development of wide range of strategic and tactical missiles, as well as a unique twin layer ballistic missile defence system in the country.
Another DRDO Scientist G Satheesh Reddy of Research Centre Imarat (RCI) received the prestigious ASI Rocketry and related Technologies Award (ASI Rocketry Award) on the occasion.