Things I had:
1) Laptop with Windows 7 installed.
2) Nokia PC Suite installed (this software is freely available on Nokia's site. Please ensure you download the correct version, since some new versions of this software don't support older handsets).
3)Nokia phone to USB connector is also required. Alternately you can make use of bluetooth also to sync data between Laptop and Nokia handset, in my case I had the USB cable.
4) Internet connection working on laptop as well as Android phone.
Here's what you need to do:
[I] Importing Data from Nokia to Laptop.
1) Connect the handset to laptop. Start the Nokia PC Suite. Once the handset is detected, click on the "Synchronize Contacts" button.
2) Click on the Synchronize button, this will import all the contacts from Nokia handset into your laptop in the following location C:\Users\
3) Open Windows Explorer and go to C:\Users\
4) In the Export Windows Contact window select "CSV (Comma Separated Values)". Click on Export. Save the export file as Contacts.csv in a accessible location on your laptop.
[II] Export Data from CSV to GMail contacts.
1) Log into your GMail using the account which you've configured on Android.
2) Go to Contacts.Click on More Actions and Import.
3) Select the Contacts.csv file and let it import.
[III] Sync between GMail contacts and Andriod Contacts.
1) Sit back, relax and watch all your nokia contacts available in Android under "People".
Optionally you would want to work on duplicate entries from your gmail and nokia. This is extremely useful since I was migrating from a non-smartphone to a smartphone. Under gmail contacts, you can click on More Actions -> Find and Merge Duplicate entries. This tries to compare all the recently imported entries with existing ones for duplicate names and suggests if you want to merge them.