Goldman ramps up credit business in India, targets rich diaspora

Goldman Sachs plans to expand its credit business in India, targeting the nation's wealthy diaspora as global investors shift focus to the fastest-growing major economy. The investment bank aims to broaden its range of loans through its shadow banking unit and obtain a license to scale up currency trading. Indian markets have benefited from the shift of emerging market equity flows from China. Goldman Sachs is also looking to serve Indian entrepreneurs who have moved abroad during the pandemic from offices in Singapore, London, and Dubai.

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