India won a cash reward of Rs 2 crore besides the winner's trophy while Pakistan got Rs 1 crore and the runners trophy.
India's Hardavinder Singh and Balbir Singh were adjudged the best raider and best stopper, respectively. Both were awarded tractors.
The first half saw a tough battle between the two sides. However, the hosts gradually got a better grip on the match in comparison to their opponents.
India beat Pakistan 48-39 in the final at Ludhiana
Punjab Chief Minister Parkash Singh Badal and Deputy Chief Minister Sukhbir Singh Badal, Pakistan's Punjab Prime Minister Shahbaz Sharif and other dignitaries were present on the occasion. Shahbaz Sharif said before the match that if India wins, it would mean Pakistan's neighbour has won and they would congratulate India.
The USA beat England 62-33 to finish third in the competition that comprised 11 teams.
India was grouped with the USA, Spain, Kenya and Argentina (Iran did not play) in Pool A while Pakistan was in Pool B with England, Canada, Sierra Leone, Denmark and Scotland.
On December 12, India's women also won their World Cup crown for the third consecutive time. They beat New Zealand 49-21 in the final at Guru Govind Singh Sports Complex in Jalandhar.
(With PTI inputs)