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Goldman Sachs Group has opened a new office in Mumbai's Worli business district as part of its expansion in India, according to a company statement. The New York-headquartered investment bank said the new premises are around 50% larger than its previous location in the city, reflecting its growth ambitions in the world's fourth-largest economy.
Goldman Sachs Opens New Office In Mumbai's Worli As Part Of Expansion In India
Goldman Sachs Group has opened a new office in Mumbai's Worli business district as part of its expansion in India, according to a company statement. The New York-headquartered investment bank said the new premises are around 50% larger than its previous location in the city, reflecting its growth ambitions in the world's fourth-largest economy.
“Our new Mumbai office is the next chapter in our multi-decade growth trajectory in India, underscoring the substantial opportunities we see in the market," Kevin Sneader, the firm's Asia Pacific (ex-Japan) president, said in a statement.
Global financial firms, including Wall Street lenders and private equity houses, have been increasing their presence in India amid growing opportunities in the country's financial sector.
While inaugurating the new office in Ascent Worli, Maharashtra Chief Minister Devendra Fadnavis said, “I am delighted to officiate the opening of Goldman Sachs' new Mumbai office. This reflects Maharashtra's leadership in attracting leading global financial institutions and emphasizes the talent, depth, and maturity of India's markets."
Sonjoy Chatterjee, chairman and chief executive officer of Goldman Sachs India, said, “The opening of our new office represents a milestone in our journey as we continue to grow our India franchise. The design and purpose of this new space reflect our deep commitment to fostering collaboration, innovation, and employee well-being, while delivering world-class service to our clients."
Goldman Sachs, which has been serving clients in India since the 1980s, operates its largest office outside the United States in the country, according to the report.
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Last week, US-based rating agency S&P Global also upgraded India's sovereign rating to ‘BBB' after more than 18 years, citing strong economic fundamentals that are likely to support growth in the next two to three years. It also pointed out that monetary policy has become “increasingly conducive to managing inflationary expectations".
A day after, it also upgraded the ratings of India's 10 financial institutions, including seven Indian banks (SBI, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, and Indian Bank) and three finance companies (Bajaj Finance, Tata Capital, and L&T Finance).
Source: News18
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