The co-ordinated attacks by 10 heavily armed men, suspected by India to be of Pakistani origin, on different landmarks in Mumbai left 175 people dead.
Gopal Ombale, a policeman whose actions led to the capture of the only surviving suspect, was also given the award.
The country went on a high alert after the police killed two armed men near the Indian capital on Sunday.
The incident raised fears that armed groups could disrupt the festivities, which mark the founding of the republic on January 26, 1950.
A defence ministry spokesman confirmed that 20,000 troops had been deployed in New Delhi and that security remained at the highest level after Sunday's shooting.
Nursultan Nazarbayev, the Kazakhstan president, attended the ceremony along with Indian cabinet and opposition leaders.
However, Manmohan Singh, the country's prime minister, was not present at the parade as he is still recovering after undergoing a heart operation last week.