A small Delhi office, pooled savings, and a risky bet on computers shaped the early years of HCL.
Starting a technology company in India back in 1976 meant taking a very different kind of risk from launching a startup today. There was no established startup ecosystem, venture capital network or easy access to tech funding. Yet, six professionals decided to leave their jobs and build a business around an idea that was still unfamiliar to much of the country, computers.
AjaiChowdhry, one of the co-founders of Hindustan Computers Limited (HCL), recently recalled those early days in a post on X as the company marks 50 years since its founding. According to him, the six founders pooled together ₹1.87 lakh to get the venture off the ground.
Six friends and a common tech vision.
The founding group included Shiv Nadar, AjaiChowdhry, Arjun Malhotra, Yogesh Vaidya, Subhash Arora, and D.S. Puri. Rather than waiting for ideal conditions, they chose to build a business around their belief that computing would eventually become important in India.
Their initial resources were modest. The founders relied on their savings, borrowed money and, in one case, even sold a car to raise capital. Their first office was a small barsati (single-room rooftop apartment or shelter attached to a large open terrace) in Delhi’s Golf Links area. The circumstances were a far cry from the offices and funding infrastructure associated with today’s technology companies.
From an idea to Indian computer technology.
The founders initially worked on building a business that could participate in the emerging computing market. HCL was formally established in 1976, at a time when computers were large, expensive machines and largely confined to institutional and business use.
The company later moved beyond its early hardware ambitions and developed indigenous computing technology. Its work in the late 1970s helped establish an early foundation for India’s computer industry. Chowdhry’s recollection offers a glimpse into a period when building a tech company involved considerably more uncertainty and fewer resources than entrepreneurs have access to today.
HCL’s early story was not built around large investments or elaborate infrastructure. It began with six professionals, limited capital and a willingness to take a chance on an industry that was still developing.
Five decades later, that modest beginning remains an important chapter in the history of HCL, Indian technology companies and the growth of India’s IT industry.
