Business Standard
Goldman Sachs to invest $1 bn in India Press Trust Of India / New Delhi September 20, 2006
US-based global investment banking major Goldman Sachs today said it would invest one billion dollar in India for expanding operations in sectors like real estate and infrastructure.
"The company will make capital investment of one billion dollar across sectors including real estate and infrastucture over the next two years," Goldman Sachs India LLC CEO L Brooks Entwistle said on the sidelines of a CII conference.
"India is increasingly playing an important role in the world economy. We believe in this country's long-term story," he said. Without singling out any particular sector, he said: "We are looking at all sectors for investment in the country."
Goldman Sachs also plans to set up its businesses in the country, including investmnet banking and asset management.
Indian market represents a tremendous growth opportunity, he said, adding that more than ever there was a compelling case for us now to build an onshore presence that is fully integrated with our global businesses.
"We are in the process of building all our businesses in the country over a period of time and we have long term commitment to the country," he said. Currently, Goldman Sachs has its offices in Bangalore and Mumbai.
Bangalore office employs more than 1,000 employees while its Mumbai office has a staff strength of around 40.