In a landmark decision that has sent ripples through India’s energy sector, Vikas Kaushal has taken the helm as the Chairman and Managing Director of Hindustan Petroleum Corporation Limited (HPCL). What makes this appointment truly extraordinary? Kaushal is the first private sector executive to lead a state-owned oil and gas giant in India—a bold move signaling a fusion of corporate agility with public sector responsibility. With over three decades of experience spanning oil and gas, power, and renewables, Kaushal brings a wealth of expertise and a fresh perspective to one of India’s most critical industries. This is the story of a man whose journey from a small hill town to the pinnacle of energy leadership embodies resilience, innovation, and an unwavering commitment to progress.
Humble Beginnings and a Solid Foundation
Vikas Kaushal’s story begins in a quaint hill town nestled in the rugged landscapes of northern India. Growing up in a close-knit community, he developed an early curiosity for how things work—a spark that would ignite his lifelong passion for engineering and energy. His academic journey kicked off at Panjab University, where he earned a bachelor’s degree in chemical engineering. This technical foundation gave him the tools to understand the intricate workings of industries like oil and gas, but Kaushal knew that to make a real impact, he needed more than just technical know-how.
Enter the Indian Institute of Management (IIM) Ahmedabad—one of the country’s most prestigious business schools. Here, Kaushal honed his strategic thinking and leadership skills, earning an MBA that would become the launchpad for his remarkable career. Armed with both engineering precision and business acumen, he was ready to take on the world.
Rising Through the Ranks at Kearney
Kaushal’s professional ascent began in earnest when he joined Kearney, a global management consulting powerhouse. It didn’t take long for his talent to shine. With a razor-sharp focus on the energy and process industries, he climbed the ranks to become the global leader for this sector—a role that placed him at the forefront of transformative projects worldwide. His peers recognized his brilliance, electing him not once, but twice, to Kearney’s Global Board of Directors, a testament to his influence and respect within the firm.
As the Managing Director and Country Head for Kearney India, Kaushal tackled some of the toughest challenges in the business. He steered the firm through turbulent waters, blending strategic foresight with hands-on leadership. His time at Kearney wasn’t just about personal success—it was about laying the groundwork for the seismic contributions he’d later make to India’s energy sector.
Shaping India’s Oil and Gas Future
Before stepping into HPCL’s top role, Kaushal was already a towering figure in India’s oil and gas industry. As a trusted advisor at Kearney, he worked closely with the leadership of giants like Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), GAIL, and even HPCL itself. His fingerprints are all over some of the industry’s most ambitious initiatives. From spearheading digital transformations that modernized operations to designing refinery maintenance programs that boosted efficiency, Kaushal proved himself a master of innovation.
One of his standout achievements? Leading HPCL’s push into petrochemicals—a strategic diversification that positioned the company for long-term growth. He also established a centralized procurement office at HPCL, streamlining processes and slashing costs. These efforts weren’t just about numbers; they were about reimagining how a legacy company could thrive in a fast-changing world. Kaushal’s ability to blend cutting-edge strategy with practical execution made him the go-to expert for India’s energy titans.
A Historic Appointment at HPCL
In 2023, Vikas Kaushal made history when he was named Chairman and Managing Director of HPCL. The appointment wasn’t just a career milestone—it was a game-changer for India’s public sector undertakings (PSUs). For years, the government had struggled to fill top leadership roles at companies like ONGC, IOCL, and BPCL, often facing a talent crunch. Kaushal’s selection broke the mold, bringing a private sector dynamo into the heart of a state-owned enterprise.
What’s even more remarkable? To take on this role, Kaushal accepted an 80% pay cut—a jaw-dropping sacrifice that speaks volumes about his sense of duty. This wasn’t about money; it was about purpose. With a five-year term ahead, he stepped into the job with a mandate to steer HPCL through a perfect storm of challenges: volatile oil prices, global energy transitions, and the urgent need for sustainability.
Kaushal’s appointment reflects a broader shift in India’s approach to its PSUs. By tapping a leader with his track record, the government is betting on private sector ingenuity to revitalize a sector critical to the nation’s economy. For HPCL, it’s a chance to harness Kaushal’s global expertise and bold vision to stay competitive in an industry at a crossroads.
A Leader for the Future
At the helm of HPCL, Vikas Kaushal isn’t just managing a company—he’s shaping the future of India’s energy landscape. His three decades of experience give him a rare vantage point: he’s seen the industry evolve from the inside out, from traditional oil refining to the rise of renewables. Now, he’s poised to guide HPCL through a pivotal era, balancing profitability with the pressing demands of climate change and technological disruption.
What sets Kaushal apart is his knack for bridging worlds—private and public, technical and strategic, local and global. His journey from a small-town dreamer to a global boardroom leader is a powerful reminder that big ideas can come from anywhere. As he settles into his role, all eyes are on him to see how he’ll harness HPCL’s potential and redefine what a state-owned oil company can achieve.
The Man Behind the Mission
Beyond the titles and accolades, Vikas Kaushal is a leader driven by impact. His decision to leave a cushy private sector career for the rough-and-tumble world of a PSU shows a rare blend of courage and conviction. Colleagues describe him as sharp yet approachable, a thinker who’s as comfortable brainstorming big ideas as he is rolling up his sleeves to get things done.
As he embarks on this five-year chapter, Kaushal carries the weight of expectation—not just from HPCL, but from an industry and a nation looking for answers. If his past is any indication, he’s more than up to the task. From the hills of northern India to the helm of one of India’s energy giants, Vikas Kaushal’s story is far from over—it’s just getting started.