Satwik and Chirag, ranked 11th in the World, had become the first Indian men's doubles pair to qualify for the prestigious season-ending tournament after finishing at the semifinal stage of the Indonesia Open Super 1000 tournament last week.
World number 14 Srikanth, who had reached the knockout stage in the 2014 edition of the year-ending event, went down 18-21 7-21 to three-time junior world champion Vitidsarn in a 46-minute men's singles match.
Satwik and Chirag had finished at the semi-finals of the Indonesia Open last week but made the cut after Japanese pairing of Akira Koga and Taichi Saito also lost in the last four at the Super 1000 tournament.
Third seed Sindhu, the reigning world champion, had to toil hard to get the better of Yujin 14-21, 21-19, 21-14 in the quarter-final that lasted an hour and six minutes.
PV Sindhu continued her impressive run at the French Open badminton tournament by sailing into the women's singles semi-finals with a straight-game win over Thailand's Busanan Ongbamrungphan
India's Sourabh Verma, however, bowed out of the competition after losing 12-21 9-21 to Japan's Kenta Nishimoto in the second round.
A struggling Kidambi Srikanth was outplayed by his world number 2 opponent and Tokyo Olympics gold medallist Viktor Axelsen, who won the first match 21-12, 21-13 in 38 minutes.
Meanwhile, the men's team, which is already through to the quarter-finals, suffered a 1-4 defeat in their last group match, setting them up against Denmark in the last-eight stage
The Indians thus finished their group engagements at second place behind China, setting them up against Denmark in the last-eight stage on Friday.
It was a second straight 5-0 win for India, with the team having beaten the Netherlands by an identical margin on Sunday.
With Saina Nehwal and the Chirag Shetty-Satwiksairaj Rankireddy pair back in the team, India will look to forget the Sudirman Cup disappointment and produce a strong performance in the men's and women's team events
BAI also on Sunday named a 12-member Indian team for the Sudirman Cup, which is slated to take place from 26 September to 3 October in Finland.
Tokyo Olympics 2020: Disappointed shuttler Chirag Shetty aims to utilise Games experience in future events
Chirag and Satwiksairaj Rankireddy, ranked world no 10, won two of their three group matches but failed to qualify for the knockout stage after games won by each pair were considered to decide the two qualifiers following a three-way tie.
The 26-year-old Indian, who won a silver in the 2016 Rio Olympics, defended brilliantly and rode on her attack to outclass the fourth seeded Yamaguchi 21-13 22-20 in a 56-minute quarterfinal clash at the Musashino Forest Plaza here.
Tokyo Olympics 2020: India men's hockey team, Lovlina Borgohain clinch wins; Manu Bhaker-Saurabh Chaudhary disappoint
At the Asaka shooting range, the Indians largely misfired and with that the hopes of medals in the 10m air pistol and 10m air rifle mixed team events went up in smoke.
Here's the full schedule of the various events involving Indian athletes at the Tokyo Olympics on 27 July, Tuesday.
The world number 10 Indian duo could never get into any kind of rhythm and lost 13-21 12-21 in 32 minutes against the top seeded team.
Tokyo Olympics 2020: Satwiksairaj Rankireddy, Chirag Shetty earn thrilling win over World No 3 doubles pair
Satwik and Chirag matched their fancied rivals both in attack and defence during the one hour and six minute contest, which turned out to be an edge-of-the-seat thriller.
Tokyo Olympics 2020: Ex-Indian shuttler Trupti Murgunde expects PV Sindhu to do well; lauds B Sai Praneeth’s skills
Murgunde talks about Sindhu's transformation into a bonafide medal contender, Sai Praneeth's draw and more.
Tokyo Olympics 2020: Tough knock-out challenge awaits PV Sindhu; difficult draw for Sai Praneeth, Satwik-Chirag
PV Sindhu has been drawn into an easier looking group but on her way to the final, she could face Akane Yamaguchi and Tai Tzu Ying.