The unseeded Indo-Colombian pair defeated Gonzalez and Molteni 6-3, 6-2 in the final that lasted for a little over an hour.
India had mixed fortunes in the men's doubles at the US Open on Friday.
Rohan Bopanna and his partner Australia's Matthew Ebden were beaten by Argentine combo of Maximo Gonzalez and Andres Molteni.
The 44-year-old Bopanna had also lost in the men's doubles in the third round when he and his Australian partner Matthew Ebden were beaten by the Argentine duo of Maximo Gonzalez and Andres Molteni.
Rohan Bopanna and his Indonesian partner Aldila Sutjiadi registered a hard-fought win over Australian Matthew Ebden and Barbora Krejcikova.
Australia now have the opportunity to avenge last year's final defeat by Italy after world number one Jannik Sinner inspired the holders to a 2-1 victory over Argentina.
Rafael Nadal teamed up with Carlos Alcaraz for the first time as Spain's so-called dream team opened their Olympic doubles campaign with a 7-6(4), 6-4 defeat of Argentine sixth seeds Maximo Gonzales and Andres Molteni on Saturday.
A summary of Friday's action in the Davis Cup group stage matches.
Rohan Bopanna clinched the coveted No. 1 spot in men's doubles at the Australian Open 2024
The Indo-Australian pair will now meet the sixth-seeded Argentine duo of Maximo Gonzalez and Andres Molteni.
India's Rohan Bopanna, partnering Australia's Matthew Ebden advanced to the semi-finals of the men's doubles at the US Open tennis tournament, at Flushing Meadows, New York, on Tuesday. The sixth seeds scored a 7-6(10), 6-1 victory over the 15th seeded American combination of Nathaniel Lammons and Jackson Withrow in the quarter-finals.
Divij Sharan and his Serbian partner Nikola Cacic fought hard before going down in three sets
Veteran Indian tennis star Leander Paes won his second Challenger-level title of the season but Ramkumar Ramanathan had to be content with a runner-up finish at the $ 75000 clay-court event, in Florida.
Indian ace Mahesh Bhupathi and Max Mirnyi sailed into the second round of the men's doubles at Wimbledon, scoring a straight-set victory over the Argentine duo of Maximo Gonzalez and Sebastian Prieto in London on Thursday. The fourth-seeded Indo-Belarus pair won 7-5, 6-1, 7-5.
Ramkumar battled past Italian qualifier Andrea Arnaboldi 6-2, 5-7, 6-4 in the semi-finals of the US $75,000 clay court event after two hours and 34 minutes.
India's Leander Paes and Mahesh Bhupathi won their respective matches to advance into the pre-quarterfinals of the US Open on Friday.
Sania Mirza and Rohan Bopanna made winning starts to their respective campaigns at the Australian Open with contrasting opening-round victories with their doubles partners, in Melbourne on Wednesday.
Britain's Andy Murray enjoyed a routine win over Argentina's Juan Monaco to ease into the third round of the tennis tournament at the Rio Games on Tuesday, while Spain's world number nine David Ferrer was knocked out.
Rafael Nadal overcame a temporary blip on his way to victory at the ATP Cup on Saturday
Rafael Nadal put in some late-night overtime to drag hosts Spain into the Davis Cup semi-finals but Novak Djokovic's hopes were dashed in excruciating fashion as Serbia bowed out on Friday.
Karolina Pliskova lost her cool over a line call and bashed a hole into the umpire's chair with her racket after suffering a 3-6, 6-3, 7-5 defeat by Maria Sakkari in the Italian Open second round on Wednesday.