Goldman Sachs Opens New Office In India To Tap Talent
Goldman Sachs Group Inc. opened a new office in southern India to take advantage of the country’s talent, months after Prime Minister Narendra Modi pitched the nation’s growth potential to the firm in New Delhi.
(Bloomberg) -- Goldman Sachs Group Inc. opened a new office in southern India to take advantage of the country’s talent, months after Prime Minister Narendra Modi pitched the nation’s growth potential to the firm in New Delhi.
The Hyderabad-based office will be used for adding clients, platform engineering and global enterprise partnerships, the investment bank said in a statement Thursday. The nine-story tower spread over 351,000 square feet (32,609 square meters) can accommodate almost 2,500 employees.
Multinationals are setting up so-called global capability centers across India, where workers who used to provide information technology support are now taking on more sophisticated roles. India has roughly 1,600 of these centers, more than 40% of the number worldwide, according to Nasscom, a trade body for India’s technology industry.
“Our growth story in India is compelling and enabled by the country’s extraordinary talent,” said Richard Gnodde, chief executive officer of Goldman Sachs International.
Goldman established its presence in Hyderabad in 2021 with operations ranging from engineering and finance to emerging technologies such as cloud computing and artificial intelligence, it said in the statement. It currently has over 1,500 professionals in the Hyderabad office with 75% being new hires.
Goldman has three offices in India in Mumbai, Bengaluru and Hyderabad, where it is shifting from an older facility to a new one.
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