The 28-year-old, who won his sixth World Cup medal, finished second behind Brazillian Felipe Almeida Wu, who shot 200 to claim the gold medal. Jin Jongoh of South Korea settled for bronze with a score of 178.8.
With the silver podium finish, Jitu has reaffirmed the belief that he is in good form ahead of the 2016 summer Olympics in Rio de Janerio, Brazil - which begin on 5 August.
On Friday, the world number one in 50m pistol finished tenth in the qualification round of the event in Baku. Last September, he had become the first Indian shooter to earn a Rio quota with a second place finish at the World Championships in Spain.