HCL Technologies Ltd has launched a new business unit called Neo.AI to target small and mid-sized companies with annual revenues between $1 billion and $5 billion, according to livemint.com. This marks the first time an Indian IT services firm has created a dedicated unit focused on this segment, aiming to diversify its revenue base beyond large enterprise clients.
The Neo.AI unit will focus on providing IT services tailored to the needs of smaller firms, a strategy inspired by global peers like Accenture Plc. HCLTech’s move reflects a shift in the Indian IT sector, where companies traditionally concentrated on Fortune 500 clients. The company hopes this new unit will create a fresh growth engine by tapping into the mid-market segment, which has been relatively underserved.
This development is significant as it addresses a gap in the Indian IT services market, where most firms have concentrated on large enterprises. By targeting companies with revenues between $1 billion and $5 billion, HCLTech is positioning itself to capture a broader client base. The approach mirrors global trends where IT firms diversify offerings to reduce dependency on large accounts and adapt to evolving market demands.
HCLTech’s Neo.AI unit launch was reported on July 27, 2026, by livemint.com, highlighting the company’s strategic shift. The unit’s focus on small and mid-sized firms represents a new chapter for Indian IT services, potentially influencing competitors to explore similar market segments.