The company will now look at capturing the fast-growing global demand for smart cards. It also aims to close deals to acquire RFID solutions companies in the US.
HYDERABAD: The first smart card making plant in the country - set up by Hyderabad-based Bartronics India — has begun production.
The company will now look at capturing the fast-growing global demand for smart cards. It also aims to close deals to acquire RFID solutions companies in the US.
Bartronics is known for turnkey execution of bar-coding, radio frequency-based identification (RFID), and biometric technologies with almost half of its revenues coming from the RFID solutions space. A study by Frost & Sullivan has put the demand for smart cards at over 150 million units this year and growing at a CAGR of around 45%. In India, much of this demand is coming from the telecom and banking sectors. While the SIM card market is put at Rs 150 crore annually, Bartronics is looking to tap 65-70% of this segment with the rollout of the new plant.
A further fillip to the smart cards market is expected in about a year with the banking sector going in for aggressive switch from the current magnetic tape cards as the Visa/Mastercard deadline is set to expire in a few years.
However, the real boost to the market is expected from the proposed Multipurpose National Identity Card (MNIC), proposed to be implemented by the centre in 10 years. The National Informatics Centre (NIC) has already shortlisted Bartronics and the pilot project is already on, Sudhir Rao, managing director, told DNA Money.
Given the security considerations, the project is likely to be given only to Indian companies with the capability.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}