Ashish scored a comfortable unanimous victory over Armenia's Toni Galstyan, but Srinivas went down to Frenchman Milan Prat in his lung-opener.
Late tonight, Reyal Puri (81kg) is pitted against Azerbaijan's Elkhan Aliyev in his opening contest.
The mega-event for 16 to 18-year-olds features a formidable field of 417 boxers from 75 countries.
Tomorrow, Sachin (49kg) will open his campaign against the winner of the clash between Korean Seongchan Baek and Mexico's Gustavo Antonio Alvarez.
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