This was Thapa's third silver and sixth medal overall at the prestigious tournament, which makes him the most successful male pugilist in the championships' history.
The judges disqualified her final rival, Jordan's Islam Husaili, in the opening round ending India's women's boxing campaign with a total of seven medals.
The Anirudh Thapa-led side will look to carry forward their confidence from their previous fixture, coming into the match with an away win against East Bengal FC.
Shiva was facing 2019 Asian Champion Bakhodur Usmanov of Tajikistan in the semi-final. In a close bout that saw both the boxers go toe to toe from the beginning, Shiva used his vast experience and tactical acumen to prevail over his younger opponent in a 4:1 split verdict
Later tonight, six-time Asian medalist Shiva Thapa (63.5kg), Mohammad Hussamuddin (57kg), and Narender (92+kg) will all take to the ring to secure their berth in the final.
Minakshi, was up against the 2021 Asian Championships bronze medalist Lutsaikhan Altantsetseg of Mongolia and the Rohtak-born boxer hardly had to break a sweat in her comfortable victory
India's other boxer who was in action, Etash Khan lost 2-3 to Thailand's Khunatip Pidnuch in the round of 16 bout at the 2022 Asian Elite Boxing Championships in Amman, Jordan late on Friday.