HCL (like Infosys, TCS Wipro etc) is a body shopper firm and has nothing much to do with "Computer Science" or the cool things you mention (multidimensional interval trees, POMDP etc). Mr Nayar is just saying that he thinks American Graduates don't have the kind of crap enterprise buzzword "skills" that he can sell to clueless managers at x $/hr. Mr Nayar and his firm wouldn't know what to do with someone who is really good at Computer Science or Math, because those are not the "markets" he addresses. I would imagine an American grad student would be
happy to be unemployable (by Mr Nayar).
Really this is just a bodyshopper trying to justify why he isn't hiring costly Americans (vs cheap Indians). Of course he can't say "I am looking for cheap bodies to ship offshore and Americans are expensive", and still retian his job. These mumblings aren't worthy of being upset over.
Due Disclosure: I am Indian. I work in India (Bangalore to be precise), but I do work with POMDPs, MultiDimensional Interval Trees and so on ;-) (My latest project is in Robotic Vision and Navigation, for the Indian Defence Dept)