The story of Indian IT is changing. Even as the “Big Three” have so far relied on the West to bring in their lion’s share of revenue, HCLTech is clearly aiming to strengthen its base in India. On Thursday, January 14, 2026, the Noida–headquartered tech conglomerate said it was reorganizing its top echelons in a signal that it is “doubling down” on India not only as a back office but as a key ground for strategic growth.
The move is happening at a time when India’s domestic digital economy is in full boom — not only because of government initiatives like Viksit Bharat and huge pushes by the private sector around AI. For HCLTech, this is not merely a tale of expansion; it’s about riding the next wave of India’s technological narrative from the front.
The New Guard: Sandeep Saxena to Lead the Charge
At the core of this strategic shift is the promotion of company old hand Sandeep Saxena as its Chief Growth Officer – Growth Markets 2. Saxena will be based out of Mumbai and will be responsible for business operations in India, Middle East and Africa (IMEA).
Saxena, who joined HCLTech in 1998, has been credited for the company’s stellar rise in the European market. In luring someone like Mayank back to India, CEO C Vijayakumar is effectively telegraphing that the Indian market now demands the kind of sophisticated, high-stakes leaders who usually hang out in London or New York.
“India is one of the fastest growing economies in the world underpinned by stable, inclusive growth and robust macroeconomic stability,” Vijayakumar said. “We are contributing our global scale and full stack capabilities to help Indian businesses drive growth through next-gen technologies.
Historic Turn: India Outpaces West
The numbers support this strategic turn. In its Q3 FY26 recent earnings announcement, HCLTech disclosed that notwithstanding a robust growth in the U.S. and Europe markets, its India region witnessed a scorching 15.8% YoY growth on constant currency basis.
That is better than with just about any other geography in the company’s portfolio. The surge is driven by:
- Public Sector Digitalisation: Heavy contribution to Government of India’s vision of “Digital India” and major Public Infrastructure projects.
- AI-First Firms: Maturing appetite of Indian BFSI (Banking, Financial Services and Insurance) companies and manufacturing units to cater AI for transformation.
- Indian IP to lead scaling up: Increasingly, HCLTech is investing in the development of Made in India IP with global scalability.
The ‘Elite Cadre’: A New Age of Hiring
The India promise is also evident in HCLTech’s revamped talent strategy. In an attempt to secure the country’s best engineering talent, the company has set up an “Elite Cadre” of freshers.
In 2026, that starting wage for the best Advanced AI, Cybersecurity and Digital Engineering graduates is a payment of £18-£22 lakh per annum. That’s 3 to 4 times the entry-level average of the industry! By upping the ante on compensation, HCLTech is trying to plug the exodus of brains and keep talent that’s developing the world’s most sophisticated AI agents right here in India.
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Navigating the “New Normal”
But the route has not been without its bumps and bruises, despite the rosy picture of expansion in India. Similar to IT peers, HCLTech grappled with a one-time financial hit of ₹956 crore following India’s New Labour Codes roll out. That led to a decrease in net income, but the company’s overall operating performance still looks solid with revenues over the annual run rate of $15 billion.
The company’s 2026 plan is no longer a matter of waiting until global discretionary spending returns to pre-pandemic levels. Rather, it’s focused on “new spending pockets”—namely in Agentic AI and Physical AI—in which India stands ready to serve as a global testbed.
What This Means for the Industry?
HCLTech’s “India-first” approach may well set off a chain reaction among Indian IT peers. With the home market getting more tech-mature, battle for big digital contracts in India is set to intensify. For HCLTech, who is one of the earliest to the “homecoming” party, it comes with a significant first-mover advantage.
With a dividend payout of ₹12 per share and raised revenue guidance for the year, the company is showing that betting on India is not just a patriotic gesture — it’s a profitable one.
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