Representatives of global investment bank Goldman Sachs recently interacted with Telangana IT Minister KTR over a video conference and discussed plans to enter Hyderabad.

Minister KTR responded positively and stated that the government will provide complete support to the firm in their future ventures.

In a mega boost for Hyderabad, which is fast emerging as a global destination of business and tech giants, Goldman Sachs has decided to establish in the city.

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.

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.

The new office is expected to start operating in the second half of 2021 with about 500 employees.

However the company said that its Bengaluru Office with over half of its 6,000 employees as engineers, will continue to be a major location for Goldman Sachs in India.