Inderjeet achieved his best in his fifth and penultimate throw after a modest opening effort of 18.29m.
Russia's Alexander Lesnoi (20.30m) won the gold while compatriot Valeriy Kokoev (19.65m) took the bronze in the flagship event among the universities in the world.
25-year-old Inderjeet had taken part in the just-concluded Asian Athletics Championships in Pune where he finished fourth with a best throw of 19.31m on July 3.