The actress launched the "Emeralds for Elephants" project on behalf of Gemfields, a Zambia-based emerald mining company.
Speaking at the fundraising event, Dixit said: "This national heritage animal in India is now seriously under threat since its habitat - forests - is disappearing at an alarming rate.
"Many instances of human-elephant conflict have been reported in the country. This would not have happened if elephants had their own space and humans had not cut forests for farmlands, settlements, industries, roads or railways," she said.
Gemfields has collaborated with the World Land Trust and Wildlife Trust of India to raise funds for the protection of Asian elephants and tigers.
Devdas star Dixit recently announced her to return to Bollywood and is reported to be starring in an Indian version of Freaky Friday.