Gupta, a retired mathematics professor, is the first Indian to receive the award. The award will be conferred upon Gupta at the International Congress of Mathematicians (ICM) to be held in Hyderabad Aug 19-27.
The prize is named after mathematician and historian Kenneth O. May, founder of the International Commission for the History of Mathematics.
Instituted in 1989, it consists of a bronze medal and is given once in four years in appreciation of a mathematician's scholarly work in the field.
Gupta has been selected for his work on the history of development of trigonometry in India.
Around 3,000 delegates from across the globe are expected to gather in Hyderabad for the nine-day ICM meet, the biggest and the most prestigious international meeting of mathematicians that takes places every four years. The Congress is being held in India for the first time.
President Pratibha Patil will inaugurate the meet.