The Indian Regional Navigation Satellite System provides accurate positioning service to the users within and around India, extending up to 1500 km. However, when a receiver encounters a Continuous Wave Interference, its positioning accuracy degrades, or sometimes it even fails to work. Wavelet Packet Transform (WPT) is the most widely used technique for anti-jamming in Global Navigation Satellite System receivers. But the conventional method suffers from threshold drifting and employs inflexible thresholding functions. So, to address these issues, an efficient approach using Improved Particle Swarm Optimization based Parametric Wavelet Packet Thresholding (IPSO-PWPT) is proposed. Firstly, a new parameter adaptive thresholding function is constructed. Then, a new form of inertia weight is presented to enhance the performance of PSO. Later, IPSO is used to optimize the key parameters of WPT. Finally, the implementation of the IPSO-PWPT anti-jamming algorithm is discussed. The performance of the proposed technique is evaluated for various performance metrics in four jamming environments. The evaluation results manifest the proposed method’s efficacy compared to the conventional WPT in terms of anti-jamming capability. Also, the results show the ability of the new thresholding function to process various signals effectively. Furthermore, the findings reveal that the improved PSO outperforms the variants of PSO.