"In recognition of your achievements throughout the year, AIBA would like to use the occasion to present you with the 2016 AIBA Pro Boxing (APB) Best Boxer award," AIBA President wrote in a letter sent to the two-time Olympian.
The 24-year-old Vikas is currently in New Jersey, USA. He he has been training there for more than a fortnight to prepare for the season ahead.
He lost the first but went on to beat Kenya's Nickson Abaka in the second bout that was held in Delhi which was conducted by the Professional Boxing Organisation of India (PBOI). Abaka is currently placed 8th in the AIBA APB rankings.
"It is a huge honour but I am not particularly happy because I have already missed what I really wanted this year and that is an Olympic medal," Vikas told PTI over phone from New Jersey.
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"I am told I am the first Indian boxer to get such an award. That is a great thing but I cannot say that it makes me very happy because the Olympic disappointment is still there," the middleweight boxer said.
Vikas said he decided to be in US for training to improve his defensive skills.
"I have decided to set small goals for myself. So right now I am focussing on the World Championships next year. Tokyo Olympics is far off and by that time I intend to have a flawless game. I am training like a professional boxer so that I master the art of defence," he said.
"I don't want to leave it to the last moment," he added.
During the same gala, the celebrated M C Mary Kom will be presented the 'Legends Award' in recognition of her contribution to the sport.