Oral cancer is a major public health concern in the Asian countries predominated by India which accounts for 33.81% of the annual global oral cancer burden. The well‐established high‐risk factors associated with oral cancer include tobacco, areca nut, alcohol consumption, and high‐risk human papilloma virus types 16/18. Additionally, in the past two decades, the critical role of the genomic constitution of individuals in oral cancer susceptibility has emerged. Accumulating evidence indicates the association of several single nucleotide polymorphisms (SNPs) with oral cancer risk. Thus in the current study, we assessed the association of thirteen SNPs in seven transcription factor genes along with HBB (a control SNP) to identify high‐risk genotypes associated with increased oral cancer risk in an Indian cohort of tobacco habitués. Fourteen SNPs were investigated in 500 patients with oral cancer and 500 clinically healthy long‐term tobacco users as controls of Indian ethnicity. Allelic discrimination real‐time polymerase chain reaction was the method of choice for genotyping the samples. Logistic regression analysis was performed and the association of SNPs with oral cancer risk was estimated using odds ratio (OR) and 95% confidence interval (CI). We observed five SNPs—rs2051526 (ETV6), rs6021247 (NFATC2), rs3757769 (SND1), rs7085532 (TCF7L2), and rs7778413 (SND1) indicating increased oral cancer risk with OR ranging from 1.61 to 34.60. Further, as a proof of concept, the coinheritance of high‐risk genotypes in rs6021247 (NFATC2) GG (OR, 2.77; CI, 2.09‐3.69) and rs7778413 (SND1) CC (OR, 34.60; CI, 17.32‐69.13) reflected further increase in the risk with OR‐49.94 (CI, 16.25‐153.48). The present study indicates the association of transcription factor SNPs with increased oral cancer risk constituting “predictive biomarkers” in oral cancers.