Goldman Sachs to invest more in India

Global investment and financial services major Goldman Sachs will pump in more direct investment into India, besides expanding operations, Lloyd C Blankfein, president and chief operation officer, Goldman Sachs Group Inc said on Thursday.

"We will do more in terms of direct investment and also expand our operations," he said at the Indian School of Business in Hyderabad.

Blankfein, who was in Hyderabad in connection with $1 million grant from Goldman Sachs Foundation to ISB, said priority sectors for investment would be "people, merchant banking, financial services."

"I have great expectations in India and its people. We are looking for people with talent. I also believe in technology-driven growth," Blankfein said.

Glodman Sachs centre in Bangalore is growing at a rapid speed. "We have 1,200 people there. This would go up as we expand which is a continuous process," he added.

Goldman Sachs had invested over $30 million in Bangalore centre. On partnerships, Blankfein said the firm was open to partnerships "as and when necessary."

Currently, it is a 25 per cent partner in the joint venture investment bank, Kotak Mahindra Capital Company Ltd besides a 25 per cent interest in Kotak Securities Ltd.