The 20-year-old from Guntur, Andhra Pradesh beat Ponsana 21-16 21-12 in a 34-minute match to script the biggest win of his still nascent career.
The 13th-seeded Indian matched his fancied rival in all departments of the game in what turned out to be a lop-sided contest.
The first game went neck and neck before Srikanth broke free after being locked 15-15. He notched up six consecutive points to win the game.
Ponsana had a two-point lead to start with Srikanth made amends quite quickly to reel off eight successive points and seal the game and the match in his favour.
Srikanth had previously reached the quarter-finals of the Asian Junior Championships and entered the prequarterfinals of the World Junior Championships in 2011.
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