Lakshya Sen, who also secured a maiden bronze at World Championship in his first campaign at the event, jumped two spots to the 17th place but B Sai Praneeth slipped two places to the 18th spot.
Srikanth, who had reached the knockout stage of the 2014 edition of the year-ending event, beat France's Toma Junior Popov 21-14 21-16 in 42 minutes in his opening match of group B.
The two-time Olympic medallist will now lock horns with world no 30 unseeded Turkish shuttler Neslihan Yigit in the quarterfinals.
India will play defending champion China on Monday, before taking on hosts Finland in the world mixed team championships on Wednesday.
In women's singles, Aakarshi Kashyap was the most impressive but lost the semi-final to fourth seed Dane Julie Dawall Jakobsen.
Me and Sikki (Reddy) try and sit together and discuss what went wrong and how we can do better. Both of us have learnt a lot and understand each other well, says Ashwini.