Goldman
Sachs, one of the largest global investment banks, is
planning to invest up to $1 billion to expand its business
in India. The additional investments would be made over
the next two years.
The
firm is very bulling on India, which it said is increasingly
playing an important role in the world economy. Goldman
Sachs is looking at sectors like realty and infrastructure,
besides plans for investment banking and asset management.
Goldman
Sachs had a partnership with Kotak Mahindra Bank for investment
banking and stock broking since 1996. Earlier this year,
the two groups decided to terminate the alliance and go
separate ways.
Kotak
Mahindra Bank had bought out the 25-per cent stakes held
by Goldman Sachs in Kotak Mahindra Capital Company and
Kotak Securities for a total consideration of Rs333 crore
in March this year. Goldman had then announced that it
would enter investment banking and stock broking on its
own.
"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," L Brooks Entwistle, CEO of Goldman
Sachs India said.
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