Ankur scored 53 points in the final to finish 10 points ahead of compatriot Ashab Mohammed, who was fifth.
Ankur's bronze took India's medal tally to 24, with 11 of them coming in the shooting discipline.
During the qualification round, Ashab was in good form during the qualification stage, scoring 137 to take the second spot behind McMath, while Ankur was fifth at the end of the qualification round with 133. But Ankur gathered his composure in the final and shone brighter.
In the six-men final, Ankur bagged all the 10 points in the first series of five hits. In the second series, he got eight points, while the third series took his points tally to 28. Ankur continued the good work in the fourth series, earning nine points.
He followed that up with another nine-pointer series as he eliminated Ashab, who totalled 43 points after the five series.
Only three shooters, Ankur, Kneale and MacMath compete in the sixth series in which Ankur had the worst performance, bagging only seven points which took his points tally to 53. At the end of the six series, Kneale had 54 points, while MacMath got 55 points.
In the two-series play-off for the gold medal, Kneale got 17 points, while MacMath got 19 points. Kneale ended up with 70 points to get the silver medal, while MacMath ran away with the gold medal with a meet record total of 74.
Pakistan's Aamer Iqbal was fifth with 31 points, while Australian James Willett got 23 points to finish last.
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