Indian companies have a recent but strong history with Finland. Finland is the home of Nokia, the birthplace of Linux and SMS, the home of billion-dollar Supercell, Rovio and more. It is a tech superpower and major Indian companies like TATA, Infosys, WIPRO and many more have long seen the value of doing business and establishing themselves in Finland.
Today, not just major multi-national Indian corporations like TCS and HCL technologies have made Finland a major base, but many small to medium sized Indian tech firms have also gone to Finland for various reasons such as: an entry point to EU and USA, for R&D, hiring skilled but affordable researchers and tech workers, for partnerships and more.
This article features the presence and activities of several Indian firms in Finland, proof that Indian firms can find their success in international business and expansion exploring the right destination for their product development and market expansion activities: Finland.
TATA Communications and UROS to develop IoT and Smart City Solutions
The use of IoT and smart city devices are projected to cross over 20.4 Billion devices in 2020, and it is expected that spending on such devices will reach 2 Trillion USD by 2035. There are hundreds and millions of users to serve in the upcoming years and companies UROS and TATA Communications have partnered up to meet this demand and capture a large share of the market.
UROS is a Finnish Telecommunications Provider located in Oulu, Finland, it develops IoT and connectivity solutions worldwide. TATA Communications which is one of India’s and the world’s largest MNCs has partnered with UROS to help it serve their clients develop their own business through IoT Solutions. TATA has connections with over 600 mobile networks around the world and these relationships will be leveraged to bring UROS’s expertise to the global IoT market.
Technology Research and Development is a highly supported activity in Finland and Finnish companies are amongst the best in the world in terms of innovation and technological developments. This partnership highlights the winning combination of Finnish tech prowess with India’s scalability and services and promises to change the world making it more interconnected.
GEO Tech in a JV in Finland
India’s GEO Tech is no stranger to working in Europe, having offered its services and solutions in web and mobile app development in Scandinavia from 2008. The company has since then found a growing demand for its solutions and needed to establish a stronger presence in the market to cater to its clients’ needs. Working in Scandinavia for so long has shown GEO Tech that doing business in Finland is its best option.
The Kolkata-based company has partnered with Finnish partners to set up a join venture named Geo Tech-IT. This is the first European operation and has been set up in Helsinki, Finland. Geo Tech-IT focuses on SMEs and provides end-to-end solutions from mock-ups to total web and mobile app development. The customer communication and acquisition is done in the local language while the development happens in India with certified partners.
The company plans to hire technical experts in Finland as well to make client communication easier. Establishing a point of contact in Finland is a very effective sales and marketing strategy as Finland is, by nature and economy, geared to international business.
Locals speak multiple languages and English to a high degree. The government set up in Finland also made it very easy for Geo Tech to open up their business in Finland due to the collaborative and helpful nature of the business ecosystem in Finland.
Motherson Sumi acquires PKC Group in Finland to become market leader in wiring harness business
India’s Motherson Sumi aims to become a global leader in providing solutions to the transport industry, It acquired Finland’s PKC group to become a leader in the wiring harness business for heavy-duty vehicles, serving the US and European transport markets. PKC Group’s mass customization and skills in designing and manufacturing wires, electronics, architectural components and other parts for vehicles makes it a valuable acquisition in terms of assets, skills and technology
The location of PKC Group in Finland also played a strategic role as this meant that the company would be able to serve customers in the Northern and Western Hemisphere easily and effectively.
Finland opens the doors to its diagnostics facilities to India
On a non-business note, Finland has highly developed and socialised health care and also develops some of the most advanced modern health care technology in the world. In India, over 70% of the population lives beyond the reach of satisfactory healthcare services, something that Finland and India are attempting to change.
Turku University in Turku, Finland opened a Finnish-Indian Diagnostics Centre and created workshops on Health and Wellbeing. The long-term goal is to be part of the growing healthcare and diagnostics market in India which is growing at a 15% and higher rate in the country. This creates opportunities in both countries that have social and economic implications.
A Partnership Made to Last
Finland’s high degree of tech development and incredible tech and ecosystem and India’s large market, skilled services and growing opportunities make business and other relationships between Finland and India highly desirable and positive. Many Indian companies have already gone to Finland, realising that Finland offers ample R&D funding, piloting and testing platforms and is strategically located to access and grow in the US and the EU.
Indian companies in various industries involved in creating tech products can go global and expand exponentially provided they are positioned in the right environment. Finland is the right place for Indian firms and is bound to help Indian companies achieve international success.