India lost 3-2 to reigning world champions Germany in the semifinal in a thrilling contest where they created more chances but failed to match their opponents in terms of conversion.

India will now play for bronze, the medal they won at Tokyo 2020, against Spain on Thursday while Germany will meet the Netherlands in the gold medal clash later the same day.

India came out all guns blazing in the first quarter, putting the German defence under pressure right from the opening horn. Germany were able to put off four penalty corners but India finally took the lead through the fifth.

It was just the seventh minute when Harmanpreet Singh’s drag-flick took a wicked deflection off a German foot to land inside the net and give India a 1-0 lead. India kept piling up the pressure but could not find another goal as they kept missing chances, something they would rue later in the match.

Germany came back strongly in the second quarter and soon equalised through a penalty corner. Gonzalo Peillat's drag-flick beat Indian defence, which lacked the services of their key man Amit Rohidas, to help Germany equalise in the 18th minute.

Another penalty corner for Germany in the 27th minute hit Jarmanpreet Singh's legs and the referee awarded the Germans a contentious penalty stroke. Christopher Ruehr calmly dispatched the ball past PR Sreejesh to give Germany the lead.

India levelled the score just six minutes into the third quarter when Sukhjeet Singh guided a penalty corner deflection past the German goalkeeper Jean-Paul Dennerberg into the net. India kept finding chances but could not get that third goal as Dennerberg kept Harmanpreet and co at bay.

The German attacks were also being blunted by the Indian defence led by Sreejesh and the match seemed headed towards a shoot-out until some brilliant teamwork from Germany gave them the match-winning lead.

Marco Miltkau deflected a sharp pass inside the D into the goal with just six minutes left on the clock. The goal proved to be decisive as a desperate India kept looking for opportunities but the equaliser never came. A shot from Shamsher at the absolute final second of the game went over the bar and dreaded hooter sounded.

And just like that, India's dreams of an Olympic gold after 44 years were crushed.