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, according to a report by Business Today. The company is also looking at acquisition opportunities among fintech and digital security companies in India.
Investment Breakdown and Localisation Plans
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 Rs 1,100 crore investment in 2026 underscores G+D's commitment to the Indian market, which features prominently across the company's three business pillars.
Three Equal Pillars: Currency, Payments, Security
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:
| Pillar | Description |
|---|---|
| Currency Technology | Banknote printing and currency management systems, including long-standing association with the RBI and work linked to the clean note policy |
| Financial Platforms | Electronic payments and digital payment infrastructure |
| Digital Security | Cybersecurity, digital identity solutions |
In currency technology, G+D has had a long-standing association with the Reserve Bank of India (RBI), including work linked to the clean note policy and broader currency management systems, according to Business Today.
The Cash Paradox in a Digital Age
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. This observation underpins G+D's strategy to invest across both cash and digital domains in India.
Acquisition Strategy in India
G+D is also actively scanning for acquisition targets in India, particularly among fintech and digital security companies. The report notes that the company is looking at acquisition opportunities to bolster its capabilities in digital payments and cybersecurity, though no specific targets or deal sizes were disclosed. The move aligns with G+D's broader strategy to localise its offerings and deepen its footprint in one of the world's fastest-growing digital economies.
Next Milestone
The company did not provide a specific timeline for the acquisition process, but the increased investment and localisation efforts signal that India remains a strategic priority. Industry observers will watch for regulatory approvals and deal announcements as G+D executes its 2026 investment plan.
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