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|March 30, 1998||
Gemplus to invest $20 m in next three years
Good reason to believe the smart card revolution is nigh in India. Gemplus, which has 60 per cent of the smart card and plastic card market worldwide, is investing $ 20 million in India.
The money, to come in over three years, will fund research at the company's Bangalore unit, which is working on smart-card chip operating systems and software products supporting them. The R&D centre in place, at the
Gemplus India Pvt Ltd is a wholly-owned subsidiary of the Gemplus group and is planning to ride piggy-back on the fast-growing smart-card industry in the Asia-Pacific region, with plans even for a smart card manufacturing unit in India before 2000. Targeted areas include banking, telecom, medical facilities and transport.
Gemplus expects the Asia-Pacific region will account for over a third of the world's smart card market by that time. Already, company sources said, the Indian market was opening up, a good augury for the company's chances.
-Compiled from the Indian media
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