Top seed Saina, who clinched the title in 2011 and 2012, will start her campaign to complete a hat-trick when she lock horns with Germany's Karin Schnaase in the opening round of women's singles competition.
World No. 10 Srikanth will also look to etch his name on the trophy for the second time and add another title to his kitty after his triumph at the Syed Modi Grand Prix Gold in Lucknow in January this year.
Saina had lost in the quarterfinal while Srikanth's campaign ended in the second round in Birmingham.
Among five other Indians in the fray in men's singles, B Sai Praneeth will enjoy his share of attention after his gaint-killing act at the All England championship last week, where he stunned former World No. 1 and two-time Olympic silver medallist Lee Chong Wei of Malaysia.
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Praneeth will open his campaign against Lucas Corvee of France.
11th seed Ajay Jayaram will be up against Malaysia's Jiann Shiarng Chiang, while H S Prannoy, seeded 13th, will meet Finland's Kalle Koljonen, unseeded Sameer Verma will face Denmark's Emil Holst and Anand Pawar will fight it out against Germany's Marc Zwiebler, seeded 7th.
In the doubles, Manu Attri and B Sumeeth Reddy, who
became the first Indian men's doubles pair to qualify for the Olympics, will lead the challenge. Besides them, Akshay Dewalkar, young R Satwik Sai Raj of Andhra Pradesh and Mumbai's Chirag Shetty would complete the line-up.
India has been clubbed in Group B alongwith Indonesia, Thailand and Hong Kong and though it seems like a relatively easy draw, the absence of top players will hurt India's chances to progress to the knockout stage in what is only their eighth appearance in the prestigious event.