New Delhi, Aug. 3 -- The highest-paid chief executive among India's top five information technology services companies is set to earn significantly more, even as the $283 billion sector faces automation-driven job cuts, slowing growth, and global macroeconomic uncertainty.

HCL Technologies Ltd's C. Vijayakumar not only retained his title as the highest-paid CEO in the group, with a 5.7% raise last year to Rs.88.97 crore ($10.85 million), but also secured a sharply higher pay package for the next five years after being reappointed as CEO and managing director.

The jump in executive compensation comes as the industry battles declining profitability and rising layoffs. Three of the five-Infosys, HCLTech, and Wipro-reported shrinking operat...