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The All India Chess Federation announced a whopping Rs 3.2 crore in rewards for the historic 45th Olympiad-winning Indian teams during a felicitation ceremony in New Delhi on Wednesday.
AICF president Nitin Narang made the announcement during the event.
Each player from the winning teams will receive Rs 25 lakh, while the captains of the men's and women's teams, Abhijeet Kunte and Srinath Narayanan, will be rewarded with Rs 15 lakh each.
Grandmaster Dibyendu Barua, head of the Indian delegation, will receive Rs 10 lakh, and the assistant coaches will be rewarded Rs 7.5 lakh.
"The hunger for gold ended in Hungary, but the desire for success continues. In the open section we dominated and in women's section we owned it," AICF president Narang said during the felicitation.
"Our players are sharp shooters on the chessboard. The seeds planted by Vishwanathan Anand have grown into a forest."
AICF secretary general Dev A Patel said the historic twin gold medals will help in bringing a chess revolution in the country.
"In 97 years of Chess Olympiad, we won gold in both categories. It's a historic achievement," Patel said.
"This will give a new spark to chess enthusiasts. We will look to use this momentum to encourage next generation of chess players."
India made history at the 45th Chess Olympiad in Budapest as both the men's and women's teams clinched their maiden gold medals, marking a monumental achievement in Indian chess.
The men's team, featuring D Gukesh, Arjun Erigaisi, and R Praggnanandhaa, displayed dominance throughout, defeating Slovenia in the final round.
Gukesh, the star performer, won 10 of 11 rounds, propelling India to the top with 21 out of a possible 22 points.
The women's team, led by D Harika, Tania Sachdev, and R Vaishali, secured their gold by defeating Azerbaijan in a tense final.
Prime Minister Narendra Modi earlier on Wednesday personally congratulated the champions, praising their dedication and impact on Indian sports.