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The 42-year-old Indian table tennis icon will play his final tournament at home in Chennai later this month.
The Mukherjees achieved another first for Indian table tennis by assuring themselves of a medal at the Asian Championships.
India's top-ranked woman paddler Sreeja Akula entered the round of 32 with a clinical 4-0 win over Sweden's Christina Kallberg.
This is the first time the Indian table tennis teams have qualified for the quadrennial Games since its introduction at the Beijing 2008 Games.
While Sharath is the lone Khel Ratna award recipient, 25 sportspersons, including shuttlers Lakshya Sen, H S Prannoy, woman boxer Nikhat Zareen, track and field athletes Eldhose Paul and Avinash Sable, were conferred with the Arjuna Award.
The Tamil Nadu superstar paddler has a rich haul of four medals in this edition of the Games, having won the men's team and mixed team gold and a silver in the men's doubles event.
Badminton offers India a chance to land three more gold medals.
India's Lakshya Sen and Kidambi Srikanth will be hoping to make it an all India final in badminton.
PV Sindhu and Kidambi Srikanth will take part in their round-of-16 games in badminton singles.
The men's team defeated Singapore 3-1 in the title clash in Birmingham.
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