In the final round, Narang had a series of 10.7, 9.7, 10.6, 10.7, 10.4, 10.6, 9.9, 9.5, 10.3 and 10.7 to give India its first medal from the London Games.
It was the third time in row that Indian shooters had won medals at the Olympics. Double trap shooter Rajyavardhan Singh Rathore won the silver in 2004, Bindra gave India a historic gold in Beijing, and now Narang has bagged a bronze in London.
Bindra, India's only individual Olympic gold medallist, failed to qualify as he shot 594 to finish 16th out of 47 contestants.
Image: Gold medalist Alin George Moldoveanu, center, of Romania poses with silver medalist Italy's Niccolo Campriani, left, and bronze medalist India's Gagan Narang, during the victory ceremony for the men's 10-meter air rifle at the 2012 Summer Olympics, Monday, July 30, 2012, in London.