Oliver Wilson shot a 2-under 70 in the final round on the Old Course at St. Andrews as McIlroy came up just short after a bogey on the 17th hole. Wilson finished at 17-under 271, with McIlroy (68) in a three-way tie for second with Richie Ramsay of Scotland and Tommy Fleetwood of England.
Prominent Indians who missed the cut were Gaganjeet Bhullar (76-75) and Himmat Rai (75-76). Also missing the cut was Oliver Wilson (78-82).
The third edition of the full-field Asian Tour event tees off tomorrow and promises to showcase the region's best golfers in action as they vie for top honours.
The Panasonic Open India begins at the Delhi Golf Course on Thursday with top Indian golfers competing for the crown.
Oliver Wilson carded a six-under-par 66 in the second round of the Johnnie Walker Classic on Friday to top the leaderboard at ten under-par.