It was Felix Denayer, Sebastien Dockier and Arthur van Doren who scored for Belgium in the shootout.
Tanguy Cosyns (41), Cedric Charlier (43), Amaury Keusters (51) and Felix Denayer (56) scored during regulation time.
For India, Ramandeep Singh (29, 53), Nilakanta Sharma (42) and Mandeep Singh (49) were the goal scorers before the shootout.
Earlier in the day, Japan beat hosts New Zealand 4-1 in the shootout for bronze after holding the Black Sticks to 1-1 in regulation time.
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It was a steady start for India as they were made to work hard to keep the ball.
The Belgian attack meanwhile kept Indian goalkeeper PR Sreejesh busy through the first quarter with as many as three PCs including a penalty stroke. Their first PC coming in the 8th minute but Sreejesh was up to the task, lunging to his right to save.
With 52 seconds for the first hooter, Belgium won two more PCs which were brilliantly saved by the Indian goalkeeper but it was the penalty stroke taken by the ever-dangerous Loick Luypaert that Sreejesh saved which enthralled the evening audience in Hamilton.
Ramandeep had the time to control the ball and take a sure shot into the goal.
The action intensified in the third quarter with Belgium upping their attack, winning an equalizer in the 41st minute through Tanguy Cosynss well-executed PC.
Moments later, Indias Nilakanta Sharma was quick to pick up a beautiful assist from Mandeep Singh to strike the ball past Vincent Vanasch into Belgium post to regain 2-1 lead in the 42nd minute.
Four goals were scored in the final quarter showing just how intense this match was. India won back their lead twice in this quarter (3-2, 4-3) when Mandeep scored in the 49th minute followed by a sensational goal by Ramandeep Singh in the 53rd minute respectively.
But Belgium, are not the ones to give up easy as they stayed in hunt snatching Indias lead through Amaury Keusters (51) and Felix Denayer (56) ensuring the match went into a penalty shootout.
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