Chasing a record 304 at Green Park, India faltered in the final overs to finish on 298 for seven as Rohit Sharma's 150 went in vain.
Electing to bat, the visitors rode on skipper AB de Villiers' 104 to post 303 for five in 50 overs. Umesh Yadav and Amit MIshra picked up two wickets apiece but Ashwin had to go off the field with a side strain after bowling just 4.4 overs.
"In the end I thought our bowlers should have done a bit better. I thought the partnership between Rohit and Rahane was superb to keep it ticking ...," he added.
"It was a bit difficult, it was not coming at a good height so it becomes difficult on such a wicket, it was a bit two paced once the ball gets scuffed. A lot depends on the execution part, it's not only about the boundaries you have to keep the score ticking ...," he said.
"I thought it was an amazing game of cricket, close games like that bring the fans in. There were lots of times when the momentum turned, I thought (Imran) Tahir's over turned the game on its head, we were out of it then. Rabada proved to be a handful and he's got a bright future ... We just want to go an rest and then move on to the next game," said de Villiers.
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