Goldman Sachs to enter the Indian market

Goldman Sachs to enter the Indian market

Goldman Sachs has terminated its alliance with the Kotak Group and has announced their plans to enter the Indian market on their own. The company would be setting up a wholly owned onshore investment banking and securities firm in India.

With this, the company would be breaking their 10-year-old alliance with the India based finance group. Goldman Sachs has already confirmed that they are selling their share in the collaboration to the Kotak Group. The two companies were partners in Kotak Securities Limited and Kotak Mahindra Capital Company Limited.

The deal has also seen the two companies entering into a business cooperation agreement for a period of up to one year. Goldman Sachs said in a statement on their future plans: “Goldman Sachs will be making the necessary applications to establish its own domestic broker dealer firm and intends to seek other necessary licenses needed to build a leading financial services firm in India.”