Notably, the Hashtag #16YearsOfJosh has been trending on the social media to mark the event.
Celebrating the flick, one elated fan wrote, "Hum bhi hai Josh mein, Baatein kar hosh mein B|Celebrating 16 Years of Josh! :)"
Another tweeted, "It's been 16 years of Josh! How time flies! Who loved this TAPORI SRK? #throwback #tb."
"Congrats @iamsrk .. JOSH Completed 16 Years Today .. One Of My Favourite Movie Of Urs.. #16YearsOf Josh," tweeted one user.
The movie, directed by Mansoor Khan, was set in a town called Vasco in Goa, named after Alberto Vasco, a Portuguese noble who owned most of the town during the colonial era.
The film, which also starred Priya Gill and Sharad Kapoor in the prominent roles, was a remake of American musical 'West Side Story'.
The movie, that earned a total of Rs 7.83 crore (US$2.6 million) nett, was the fifth highest-grossing film of 2000 in India.