Germany’s security tech Giesecke+Devrient bets Rs 1,100cr on India, eyes acquisition

MUMBAI: Giesecke+Devrient (G+D), the German security technology group spanning currency, digital payments and cybersecurity, is stepping up its India play with fresh investments of Rs 1,100 crore in 2026, localisation plans and a sharper focus on digital infrastructure, as it bets on the country’s dual-track growth in cash usage and digital adoption.

The company is also looking at acquisition opportunities among fintech and digital security companies in India Ralf Wintergerst, group CEO and chairman of the management board of G+D, said the company is increasing investments in shared services, IT, and R&D in India, positioning the country not only as a key market but also as a global hub for innovation and delivery.The company, which has historically been associated with banknote printing and currency management, has over the years expanded into electronic payments, digital identity and cybersecurity, creating what it describes as three equal pillars: currency technology, financial platforms and digital security.

India features prominently across all three.In currency, G+D has had a long-standing association with the RBI, including work linked to the clean note policy and broader currency management systems. Even as digital payments surge, Wintergerst underscored that cash remains resilient, pointing to what he termed the “cash paradox,” where “digital payments grow, but cash does not disappear.” He added that physical currency continues to play a critical role as a fallback and in segments less digitally integrated.