With his putter just not doing his bidding, Joshi, 22, ended with a final round of three-under 68 and finished in a tie for second.
Finishing ahead of him was veteran Mardan Mamat, who at 47, is more than twice his age.
Mamat shot two-under 69 and finished two shots clear of Joshi and newcomer Asian Tour Qualifying School graduate Soomin Lee of Korea, who shot 67 including an eagle on 17th.
"I'm disappointed with my result but not my game. To be honest, I expected to win. My putter let me down the whole week. If I putted better, I could have won this tournament. But Mardan got the better of everybody. He played really well from tee to green. He is the rightful champion," said Joshi.
S Chikkarangappa (66) with eight birdies and three bogeys was tied 22nd at one-under 283, while M Dharma (69) was tied 25th and Chiragh Kumar (73) was tied 28th.
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