Put into bat, riding on a brisk 72 by Delhi-boy Manjot Kalra, India Blue managed to reach 286/9 in their alloted 50 overs.
Kalra top-scored for the side and his knock was laced by nine fours and a six.
Ninad Rathva also chipped with an unbeaten quick-fire 50 off 33 balls to take his side past the 275-run-mark. He stuck six fours and two towering sixes.
Wicket-keeper Urvil (42), opener Himanshu Rana (31) and one-down Om Bhosale (35) kept the score board ticking. They got decent starts but failed to convert them. However, their lower-order batsmen fell cheaply.
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But the India Blue bowlers managed to defend the total and bundled out India Red for 247 in 47 overs.
Chasing 287, Taide was the cynosure of eyes at the Brabourbne stadium. His hit a magnificent 104, lacing 10 boundaries, before being run-out by Shivam Mavi.
After Taide went back to the pavilion with the score at 214, India Red lost wickets at regular intervals and eventually fell short by 39 runs.
For India Blue, pacer Shivam Mavi (3-42) and A S Thakare (3-37) were among the wickets.
In the other match of the day, India Green defeated Sri Lanka Board President XI by seven wickets at the Mumbai Cricket Association's Bandra Kurla Complex.
India Green bundled out the Sri Lankan team for a meagre 220 after inviting them to bat with a five-wicket haul from D G Nalkande (5-18).
And they comfortable chased the total with seven wickets in hand and 17.5 overs to spare. Half centuries by Ankush Singh (51), Priyam Garg (64) and Abhishek Sharma (52 not out) aided the side to overcome the target.
Players from the tournament will be selected for the Indian national team for the upcoming ICC U-19 World Cup scheduled to be held in next January-February in New Zealand.