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.
India's Lakshya Sen and Kidambi Srikanth will be hoping to make it an all India final in badminton.
The men's team defeated Singapore 3-1 in the title clash in Birmingham.
However, Manush Shah, who had also filed a writ petition in the Delhi High Court against his non-selection, remains a reserve player with no changes made in the men's squad, which will be led by Sharath Kamal.
G Sathiyan was the best placed Indian male at 34 in the latest International Table Tennis Federation rankings
The 38-year-old Indian table tennis ace fought well before going down to China's former World No.1 Ma Long in the Olympics.
Sharath Kamal matched Ma Long in the first three games before the Chinese legend showed his class,
Sharath Kamal overcame a sluggish start to beat Portugal's Tiago Polonia in the men's singles second round.
Sharath Kamal and Manika Batra became the first Indian pair to pick up a medal from the sport at the Games.