Among the competitors from 12 nations will be 14 Grandmasters and 16 International Masters along with 50 title holders, said a press release from event organisers Venus Chess Academy.
The tournament, with a record prize pool of Rs 27 lakhs, has attracted more than 700 entries till date and is expected to cross the 900 mark.
The tournament is being sponsored by BMC and co-sponsored by LIC along with Ankit Gems.
Leading the Indian challenge will be Grandmasters Sandipan Chanda, Diptayan Ghosh and R R Laxman.
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The players in the open international section would be vying for the first prize of Rs 3,00,000 from a pool of Rs 11 lakhs in this 10-round tournament with a classical time-control of 90 minutes + 30 seconds per player.
In addition, the players also have a golden chance to earn the GM/IM norm.