Khan and Joshi put on solid performances at the SAIL-SBI Open which earned praises from Lahiri, who successfully defended his title on Saturday.
The 22-year-old Khan pushed Lahiri to the limit at the Delhi Golf Club but lost in the first extra hole.
Despite the defeat, Khan still held his head high with his best result on the Asian Tour which propelled him to fourth place on the Order of Merit with winnings of USD 33,000.
Joshi, India's number one amateur last year, roared into a share of the halfway lead last week but his title hopes faded with a final round 76.
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He showed composure and talent despite his tender age of 21 and is expected to bounce back and contend regularly.
"I'm amazed at the way the young guys are playing. It's a big stage. My first few years on the Asian Tour, I struggled. The guts and ability that the young guys like Rashid and Khalin are showing, it's phenomenal," said Lahiri.