Joining the elite 2,800 rated chess players club will get Arjun invites for top chess tournaments as well as better appearance fees.
The event that was inaugurated by five-time world champion Viswanathan Anand will have 11 rounds before the best player in the under-20 category can be determined in both sections.
Former World Rapid Chess champion Koneru Humpy wants the All India Chess Federation to increase women's tournaments.
Gukesh had on Sunday set up a much-awaited quarter-final clash with world No.1 Magnus Carlsen while Praggnanandhaa will meet Erigaisi.
Indian Grandmaster Arjun Erigaisi is excited about the upcoming Global Chess League, which he calls the "IPL of chess". The League has an innovative format which is to give four points for a win while playing with black and three points while playing with white pieces.
Grandmaster Arjun Erigaisi pipped Rinat Zumabayev of Kazakhstan in the fifth round to share the top spot.
The 18-year-old also created history as he surpassed the legendary Viswanathan Anand to take the No 1 spot among Indian chess players in the live ratings.
The Indian men's and women's chess teams won silver medals at the Asian Games in Hangzhou on Saturday.
The India No.1 D Gukesh scored his first win of the event, beating GM Rinat Jumabayev.
Viswanathan Anand shot into the lead at the end of three rounds of the Rapid segment in the third leg of the 2023 Grand Chess Tour
Historic moment, hails Anand after four Indians reach FIDE WC quarterfinals
Finance Minister Nirmala Sitharaman commended the outstanding performance of chess prodigy Praggnanandhaa
Rameshbabu Praggnanandhaa is still third on 9.5 points in the Norway Chess tournament.
Gujrathi and Erigaisi will represent India in the men's individual event while Koneru Humpy and D Harika will do so in the women's section.
The men's team comprises Grandmasters D Gukesh, Gujrathi, Erigaisi, P Harikrishna and R Praggnanandhaa.
Carlsen, whose form has been up and down in the preliminary phase, took the fifth place with 26 points. He tripped Duda in the final round after settling for draws in rounds 13 and 14 against Daniel Naroditsky and Giri.
In round 3, the Indian defeated German GM Vincent Keymar with the game decided in the rook endgame after Praggnanandhaa managed to win two pawns, following which Keymar resigned.
Rameshbabu Praggnanandhaa lost to World Champion Ding Liren in the Armageddon tie-breaker after the two played out a draw under normal time control in the second round.
Young Indian Grandmaster R Praggnanandhaa on Friday called for a robust financial backing for chess, debunking the common concept that players require minimal monetary support to train and excel in the sport.
Indian men's team was held to a 2-2 draw by Iran in the fifth round of the Asian Games in Hangzhou on Tuesday.
Vidit Gujrathi crashed through the defences of Hans Moke Niemann of the United States to join the leaders' pack on 4.5 points.
Giving prominence to experience over youthful exuberance, five-time world champion Viswanathan Anand feels the three Indian participants remain far from winning the Candidates chess title, saying they "should first settle into the tournament."
'Chess and cricket are similar, but in cricket, you can show your aggression, but in chess, you can't. It is all about how calm you are in chess.'
All India Chess Federation (AICF) president Sanjay Kapoor said the federation is also working on organising an Indian Chess League.
Humpy excited about young Indian chess brigade, says 'can be worthy successor to Anand'
R Praggnanandhaa's ability to defend seamlessly in pressure situations and the deductive mind to quickly gauge his opponent's weakness is the hallmark of a world class player, national coach GM M Shyam Sundar said on Tuesday.
India continues to occupy the second spot with 9 match points (2 match points for a win and 1 for a draw) behind Iran (10 MPs).
Indian men and women opened their campaign in the chess team event at the Asian Games with easy wins over Mongolia and Philippines respectively, in Hangzhou on Friday.
Arjun Erigaisi's win over In-Jung Gu came after a stiff fight with the Korean having gained an advantage before slipping up.
Esports to breakdancing, Hangzhou will set the trend for future of sport
Young GM R Praggnanandhaa on Friday won both rapid games to eliminate second-seeded Hikaru Nakamura to enter the last 16 of the FIDE World Cup chess tournament in Baku.
The second day of the Tech Mahindra Global Chess League witnessed the debut of Magnus Carlsen, the strongest chess player in the world. C
Harika lost 1-0 to China's Hou Yifan
Praggnanandhaa turned things around in the all-Indian battle after his opponent blundered
R Praggnanandhaa was the best Indian with an overall third place finish
Indian Grandmaster R Praggnanandhaa defeated compatriot Arjun Erigaisi 5-4 via the sudden death tie-break to enter the semifinals of the FIDE World Cup chess tournament in Baku on Thursday.
The team of Chingari Gulf Titans stunned Mumba Masters by 12:3, while SG Alpine Warriors were upstaged by Triveni Continental Kings
In another entertaining contest SG Alpine Warriors defeated Chingari Gulf Titans 11-6.
In the Open section, the India 'B' team, which has been in sparkling form, had to settle for a 2-2 draw against Uzbekistan as the in-form D Gukesh lost to Nodirbek Abdusattorov, the reigning world rapid chess champion.
Grandmaster Vidit Gujrathi on Tuesday said "everything came together" for him at the Grand Swiss event on his way to the Candidates.
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