Scoring a total of 699.5 (595 qualification, 104.5 finals), Gangan beat fellow Indian Sanjeev Rajput to bag the gold medal and was close to breaking his own championship record of 699.7 set in Australia in 2005.
Rajput had to settle with the silver with a total of 694.8 (591 qualification, 103.8 finals), while the bronze medal went to Englishman Huckle James with an aggregate of 694 (593 qualification, 101 final).
Meanwhile, P T Raghunath, who shared the gold medal in the pairs event with Narang, with a total of 693.2 (592 qualification, 101.2 final) finished fourth.
While the India coach Sunny Thomas heaped praises on Narang, he said that Raghunath could have performed better.
"Raghunath could have done better. He came close to win the bronze. He did poorly in the first two shots in the finals and then picked up well to score 101.2. Rajput also performed well in the final. He was fourth after the qualification but then bounced back to finish second," said Thomas.
Meanwhile Narang was overjoyed with his second gold medal win in the championship.
"I got 104.5 in the final, but I could have done better. But good to see India finishing 1-2 in a single event," he said.