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‘India is the Obvious Place to Find Skills and Scale,’ Says Novo Nordisk MD on Building GCCs
- Nordic companies are increasingly setting up global capability centres (GCCs) in India due to its specialized talent pool and alignment with Nordic strengths in innovation and sustainability.
- Companies like Volvo Group, Novo Nordisk, Nokia, KONE, and IKEA have established GCCs in India for expertise in IT, AI, analytics, and engineering.
- India offers potential cost savings of up to 70%, making it an attractive offshoring destination.
- Focus for Nordic companies has shifted from cost to capability, emphasizing on skills and scale.
- Novo Nordisk highlights India's appeal for talent and scale due to its large and skilled workforce compared to Denmark.
- R&D plays a significant role in Nordic innovation, with the region allocating substantial funds for research.
- India, with its vast talent pool, becomes a preferred partner for Nordic companies looking to enhance their R&D capabilities and innovation pipelines.
- Nordic giants like Volvo, SKF, Sandvik, and KONE have established R&D presence in India, leveraging the country's expertise in engineering and innovation.
- GCCs in India serve as hubs for technological innovations that are scaled globally within the parent companies.
- India's role in driving innovation is exemplified by success stories like AstraZeneca's digital twin innovation and Novo Nordisk's automation solution developed in Bengaluru.
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