The victim was rushed to hospital but died of his injuries after the accident on Sunday, while the police constable has been arrested.
"It was a freak accidental firing that led to the death of a man named Dongjapao during the celebrations," police official A Singh told AFP by telephone.
Singh said the cultural and entertainment programme had continued after the shooting.
Kom, who was born in a village near Churachandpur, had to settle for bronze at London 2012 after she was beaten by Britain's Nicola Adams, who went on to win the gold medal.