The 22-year-old Dwivedi's four-day total was two-over 290 while 19-year-old Raj recovered superbly from the first day damage as he shot two-under 70 on final day at the Sarawak Golf Club.
Raj's cumulative score was five-over 293 to share the 14th place with Malaysian Daeng Abdul Rahman.
Singapore's Marc Ong who was leading from day one collected the winning trophy after firing four-under 68 for the total of 13-under 275.
Raj who is currently no. 3 on Indian Golf Union men amateur order of merit list shot four birdies and two bogeys. Content with his performance especially after the first day debacle, Raj said, "Coming from 72nd position on the first day to 14th today was a great ride. This has happened for the first time that I didn't drop a single shot after first day."