Investment MNC Goldman Sachs keen to open shop in Hyderabad

Hyderabad: Goldman Sachs has identified Hyderabad as a new location for its global shared services in India. The new office is expected to commence in the second half of 2021 with about 500 employees and has potential for future growth.

This is a part of the firm's India location strategy to diversify its geographic presence and enhance talent reach, to support the growing global businesses and enhance long-term competitiveness.

Representatives of Goldman Sachs called on State Industry Minister KT Rama Rao and explained their plans to come to Hyderabad over a video conference. The Minister responded positively and stated that the government will provide complete support to the firm in their future ventures.

The representatives told KTR that the new Hyderabad office will be the second location for Goldman Sachs Services in India, and will complement the Bengaluru office footprint in terms of both the execution and support that it will provide to the firm's businesses globally.

It will leverage the expertise of the existing leadership in Bengaluru office, while investing in a strong pool of competitive world class local talent.

Key criteria for the new office location included the availability of commercial real estate and housing for employees, a diverse talent pool, quality infrastructure in the city, and support and commitment from the local government.