KTR Inaugurates Goldman Sachs Office In Hyderabad

Telangana IT and Industries Minister, K T Rama Rao today inaugurated a Goldman Sachs office in Hyderabad's Raidurgam area. Though the financial giant has been working remotely in the city since March, the inauguration of its physical office took place today.

Speaking on the occasion, the minister gushed, "I am happy and proud to be welcoming Goldman Sachs, a prestigious and well-established firm, to Hyderabad. It makes me especially happy that after setting up offices in Bangalore, Goldman Sachs has decided to expand its operations to our state capital. This is a result of our sound business policies and great infrastructure. Though we had initially spoken of recruiting 500 personnel for the firm, the management has today announced that it will recruit 2,500 people by 2023, evidence of the immense faith the company has in the potential of the state's workforce. I hope that the company reaches this recruitment target before 2023 and invests in expanding its base in Hyderabad further."

"Telangana, with its business-friendly policies and enabling ecosystem, has been attracting huge investments despite the pandemic. Hyderabad is fast becoming a key investment destination for major players in the banking and financial services industry. However, such investments will not remain limited just to Hyderabad but will cover the rest of the state as well. With our continued efforts, we will soon be able to announce similar major investments," he added.

KTR then praised Goldman Sachs for being an organisation that was committed to creating an "inclusive work environment".

India head of Goldman Sachs Services Gunjan Samtani, Chairman and CEO of Goldman Sachs India Sonjoy Chatterjee, Acting Consul General and Consular Chief (US Consulate General of Hyderabad) Clark Ledger, and Principal Secretary (ITE&C) Jayesh Ranjan attended the inauguration ceremony.

Reports suggest that another big firm, textile giant Kitex, is also considering investing in Telangana soon.