The unheralded Rizvi clinched the gold medal with a world record score of 242.3 in men's 10m air pistol, while Jitu Rai and Mehuli Ghosh bagged a bronze each in Guadalajara, Mexico.
Rai finished third in 10m air pistol, while Mehuli won bronze in women's 10m air rifle event.
Raninder said, "I am thrilled that our faith in youngsters are giving results. This was a stupendous performance particularly from Shahzar as not only did he win gold in his first senior World Cup, but did so with a world record score.
A busy calendar awaits the Indian shooters as they will compete in the Commonwealth Games, Asian Games, the World Championships and the various ISSF World Cup stages.
More From This Section
"I wish the rest of the squad all the very best as well. We have key international events lined up throughout the year and a performance like this by youngsters of the squad bodes well," Raninder said.
Pistol ace Rai won the bronze in the event with a score of 219, as three Indians made it to the finals of the season's first World Cup.
Mehuli, also a senior World Cup debutant, added to India's medal tally as she shot a world junior record 228.4 to win bronze in the women's 10m air rifle event.