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The Indian doubles pair beat Korean duo Min Hyuk and Seung Jae in the semifinals.
Satwik and Chirag humbled China's Ren Xiang Yu and He Ji Ting in straight games.
Ashwini Ponnappa and Tanisha Crasto shocked seventh-seeded Japanese pair of Wakana Nagahara and Mayu Matsumoto to inch closer in their effort to qualify for the Paris Olympics.
Long jumper M Sreeshankar, who won the Arjuna Award, and kabaddi coach Edachery Bhaskaran, who was chosen for the Dronacharay Award, were the Keralites to gain recognition.
The awards will be conferred on the athletes by President Droupadi Murmu at the Rashtrapati Bhavan on January 9.
Cricketer Mohammed Shami has also been nominated for the Arjuna.
Orleans Masters winner Priyanshu Rajawat, Denmark Masters winner Kiran George and Sathish Kumar Karunakaran entered the second round with fine victories.
The world No.1 pair of Liang Wei Keng and Wang dashed the Indian duo's hopes of claiming a second BWF Super 750 title.
The top seeds will face another Chinese pair in the summit clash.
H S Prannoy's campaign ended after he lost to Japan's Kodai Naraoka 9-21, 14-21 in the men's singles quarterfinal.
