Chasing 221 for a win, the Indian team was placed at 181 for 5 at the end of 45 overs but they could not score the required 40 runs from the remaining five overs as they were all out for 213 in 49.3 overs. The last four wickets fell for six runs. Sri Lanka U-19 team leads the five-match series 2-1.
India U-19 had won the first match on July 30 while Sri Lanka U-19 had won the second game on August 2.
The India were 207 for 4 at 48.2 needing 14 runs 10 balls but lost the last four wickets in the next seven deliveries for the addition of just six runs.
Mohit Jangra (13) and Harsh Tyagi (0) were out in consecutive deliveries but there was still hope for India as number four batsman Pawan Shah (77 from 94 balls) was still there.
But Shah, who came into bat in the 17th over, failed to finish the job as he became the ninth batsman to be out in the second ball of the final over.
Siddharth Desai (0) was run out the next delivery as the Indian team folded their innings at 213 in 49.3 overs.
Besides Shah, the other Indian batsmen who made notable contributions were Yash Rathod (37) and Anuj Rawat (26). Rawat however consumed 58 balls.
For Sri Lanka U-19, Shashika Dulshan was the most successful bowler with 3/37 while Sandun Mendis and Navod Paranavithana returned with figures of 2/46 and 2/42.
Earlier, electing to bat first, Sri Lanka U-19 were all out for 220 in 49.3 overs with opener Navod Paranavithana top-scoring with a 73-ball 51 while wicketkeeper batsman Nishan Madushka contributed 42 from 69 balls.
For India U-19, Ajay Dev Goud, Yatin Mangwani and Siddharth Desai grabbed two wickets apiece.
Sri Lanka U-19 220 in 49.3 overs (Navod Paranavithana 51, Nishan Madushka 42; Siddharth Desai 2/19) bt India U-19 213 in 49.3 overs (Pawan Shah 77; Shashika Dulshan 3/37).
First Published: August 5, 2018, 7:50 PM IST