World number four Srikanth, who won the India Open Super Series title recently and seeded third in the tournament, met stiff resistance from Tien Minh Nguyen of Vietnam, ranked 28th in the world, before emerging 21-18 19-21 21-14 winner in the 51-minute first round match at the Singapore Indoor Stadium.
In the second round, Srikanth will meet Thailand's Tanongsak Saensomboonsuk who beat Marc Zwiebler of Germany 21-19 17-21 21-12 in the first round.
Indonesia Masters champion Prannoy also advanced to the second round after beating Hong Kong's Wong Wing Ki Vincent 21-15 21-17 in another men's singles match.
Former world championship bronze medallist pair of Jwala Gutta and Ashwini Ponnappa got the better of Korean combo of Go Ah Ra and Yoo Hae Won 21-12 21-16 to reach the second round of women's doubles competition.
Gurusaidutt squandered a first-game advantage to go down fighting 21-16 12-21 15-21 to Son Wan Ho, while Sai Praneeth lost to second seed Jan O Jorgensen of Denmark 11-21 18-21. Thulasi, meanwhile, was outclassed by Line Kjaersfeldt of Denmark 16-21 14-21 in a 35-minute match.
India's mixed doubles combo of Tarun Kona and N Sikki Reddy, too, could not cross the first hurdle, going down 15-21 17-21 to fifth seeds Ko Sung Hyun and Kim Ha Na of Korea.