Chasing the target of 254 runs, India suffered a batting collapse and were all out for 174 runs in 43.5 overs.
Only opener Adarsh Singh (47) and No. 8 Murugan Abhishek (42) showed courage to fight, but it was not enough to stop the title from slipping away.
He said, “We played some hasty shots, could not spend much time at the crease. We had prepared but couldn't execute,” Saharan said during the post-match presentation.
Despite stumbling at the final hurdle, captain Saharan praised the team for their commendable performance throughout the tournament.
“It was a very good tournament. I'm very proud of the boys, they all played very well. They all showed great fighting spirit from the start, very proud of them,” he said.
“We have learned a lot from the beginning till now. Learned a lot from the coaching staff to the game. Now we just need to keep learning more and moving forward.”
This was Australia's fourth Under-19 World Cup title.
“It's incredible. I'm very proud of this group of boys and the coaches. There's been a lot of work over the last few months,” Australia captain Hugh Wiebgen said.
“We were confident that if we got 250 on the board, we would defend it. India, obviously, are a class team, they dominated throughout the tournament and today they were on the wrong side, but they have a lot of class.
Callum Vidler (2/35), Charlie Anderson (1/42), Mahali Beardman (3/15) and Tom Straker (1/32) shared seven wickets each in the final, as the Australian bowlers were successful.
“Individually, as a unit they work very well together. They know their roles, they know their work. “I would be very surprised if those four didn’t go very far.”
Wiebgen also praised Harjas Singh, who top scored for Australia with 55.
“Form is temporary, class is permanent. Full credit goes to the coaches for keeping faith in him.” We were confident that he would get the job done.”
Beardman, who was named player of the match, described it as a “surreal” feeling.
“It is very unrealistic, not fully established yet. But this is something we've been working on for a long time, so the hard work paid off,” he said.
Asked about his plans against India, Beardman said: “They have been incredible and we knew it would be a good fight. For me, I just wanted to use my short balls and hit the top off.
“I am thinking about my bowling, my field settings. Just trying to work on the mental side of the ball.”
South African fast bowler Kwena Mafaka was named the best player of the tournament.
(With inputs from PTI)