In the women's draw, Lovlina Boroghain (75kg) settled for a bronze medal at the event.
Gaurav defeated Kazakhstan's Vasiliy Levit in his semifinal bout, while Lovlina lost to Kazakhstan's Shakimova in the last-four stage.
Earlier, Nation's Cup gold-medallist Neeraj (51kg) lost in the quarterfinals to Kazakh Shekerebekova.
The tournament features both men's and women's competition with close to 150 boxers vying for the top honours.