Nordic region companies to expand their GCC operations in India: Report
The report by Inductus noted that companies based in the Nordic region see India as a strategic hub through their GCC network
The global capability centre (GCC) ecosystem in India has turned into a strategic hub for companies from the Nordic region as they continue to tap into talent in the country to drive their innovation agenda and expand markets, according to a report.
Inductus, a consulting firm, in its report, said the firms from this region, like Ericsson and Nokia have evolved into global companies, and the GCC ecosystem in India has emerged as indispensable to these enterprises.
The five nations under the Nordic region are Denmark, Sweden, Norway, Finland, and Iceland.
According to Inductus, India has solidified its position as a global GCC leader, hosting over 1,700 centres in 2024, evolving from a Business Process Outsourcing (BPO) hub into a key destination for high-value, knowledge-based work.
Credit: Inductus GCC
This transformation reflects the maturation of India’s talent pool and digital infrastructure, supported by favorable policies, enabling Nordic firms to access specialised skills to drive their innovation agendas in sectors like telecom, renewable energy, and manufacturing. The confluence of Nordic innovation and India’s extensive skilled workforce signifies a long-term strategic commitment, enhancing competitiveness and fostering mutually beneficial growth beyond mere cost savings, it noted.
As an example, the Ericsson Innovation Hub in Gurugram, part of the company’s extensive R&D network in India alongside centers in Chennai and Bengaluru, plays a pivotal role in developing 5G solutions through strategic collaborations with premier Indian universities, such as the Indian Institute of Technology (IIT) Delhi and IIT Madras, fostering innovation in areas like network APIs, AI-driven network autonomy, and energy-efficient telecom systems.
The R&D centre of Nokia, spread across Bengaluru and Chennai, is a key operation for the company in generating patents and setting new technology standards. The report noted that these facilities harness India’s technological talent to reinforce its leadership in telecom innovation and operational efficiency.
The key pull factors for Nordic companies to expand their GCC set up in India include: the availability of specialised talent, innovation ecosystem fueled by the startups, market access and bilateral relationships between governments.
According to Inductus, the Nordic region’s engagement with India’s GCC ecosystem will expand beyond traditional players like Sweden and Denmark. By 2030, firms from Norway and Iceland are likely to establish GCCs in India mainly drawn by the skilled workforce and cost advantages.
The report noted that sustainability will be a cornerstone of GCC operations, particularly for Nordic firms known for their environmental leadership. By 2030, GCCs will integrate Environmental, Social, and Governance (ESG) principles into their core strategies.