India is rapidly emerging as the undisputed powerhouse of world chess, exhibiting a dominance reminiscent of the legendary Soviet teams of the 1950s and 1960s. Following their 3.5-0.5 victory over Iran in the eighth round of the 188-team Olympiad in Budapest, India remains undefeated with a perfect score of 16/16.

Hungarian grandmaster Peter Leko aptly described India's strength: "They are incredibly strong, very young, determined, brilliantly prepared, and have fantastic team chemistry, making them a formidable opponent for anyone." With three rounds remaining, India leads with 16/16, followed by Uzbekistan and Hungary with 14 points each.

In the individual top board race, India's Gukesh Dommaraju, ranked world No. 5, leads ahead of Nodirbek Abdusattorov (Uzbekistan), Magnus Carlsen (Norway), and Fabiano Caruana (United States). Meanwhile, in the Women's Olympiad, India shares the lead with Kazakhstan on 14/16, closely followed by the United States, Armenia, and Ukraine.

India's success is spearheaded by Gukesh, 18, and Arjun Erigaisi, 21, who has seen his FIDE rating soar to the brink of 2800. Erigaisi's strategic prowess and mental resilience, cultivated through yoga and meditation, have propelled him into the world elite. His recent $1.5m sponsorship deal with Quantbox ensures he is coached by Rustam Kasimdzhanov, the 2003 FIDE world champion.

The rapid ascent of Gukesh and Erigaisi suggests that chess in the 2020s could witness an all-Indian duel, akin to the historic rivalries of Botvinnik vs. Smyslov and Kasparov vs. Karpov.

Despite the United States leading initial seedings, they are not at full strength. Meanwhile, England, seeded No. 8, trails due to a loss to Armenia. Scotland's Frederick Waldhausen Gordon is making strides towards the IM title.

Banned Russia's absence and China's struggles, particularly Ding Liren's poor form, have further reshaped the competition. New talents like Eman Sawan, a Palestinian refugee, have emerged, showcasing exceptional skills and resilience.

The FIDE congress will address the controversial motion to restore full voting rights to Russia and Belarus, amidst strong opposition from Ukraine and its allies.