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The 33-year-old became the first Indian archer to win gold in Paralympics.
The 17-year-old Devi from Jammu and Kashmir scored a total of 703 points out of possible 720.
Deepika lost to the world No. 2 4-6 after sharing the first four sets.
The pair had made history by entering the semifinals of the Games for the first time.
India comprising Tarundeep Rai, Dhiraj and Pravin lost 2-6 to Turkey.
Ankita and Deepika were the weakest links in the team as they failed to live up to expectations.
Ankita Bhakat bagged the 11th spot with a season-best score of 666, Deepika Kumari settled for 23rd place.
For the first time after London 2012, India will have a full six-member squad after both the men's and women's teams qualified on the basis of rankings.
India, who have never won an Olympic archery medal, will send a full six-member contingent to Paris to compete in all five events for the first time in 12 years.
India will compete in all five medal events in archery in Paris -- men's and women's team, individual and mixed categories.
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