He was tied sixth, and three shots behind Finland's Teemu Putkonen (65) and Japan's Konosuke Nakazato (65).
Dwivedi started on the 10th and was even par for his first nine with two birdies and two bogeys. On the second nine, he birdied four times to finish with a 68.
Exactly 100 players started out in the field and the top 22 will move to the Final Stage later this month.
Jager is an Australian Amateur Championship and two-time New Zealand Amateur Championship winner and he led by three shots over countryman Chris Gaunt.
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India's Vikas Venugopal shot 22-over 94 and lying 35th in a field of 37.
Over 430 players from around the world have signed up for the First Stage of Qualifying School presented by Sports Authority of Thailand, with Section A taking place at the Imperial Lakeview Golf Club in Hua Hin and Singha Park Khon Kaen Golf Club in Khon Kaen, Thailand this week.
After four rounds, the top 22% of the starting field at each course will qualify for the all-important Final Stage at Springfield Royal and Imperial Lakeview from January 21-24 where the top-40 finishers and ties will earn playing privileges on the Asian Tour in 2015.