Global financial services major Goldman Sachs on Wednesday said it will start its brokerage operations in India this year.
"We have got full licence for merchant banking and brokerage services in the country and will launch the brokerage operations this year," Goldman Sachs (India) Securities Private Ltd managing director and CEO L Brooks Entwistle told reporters in New Delhi.
The global firm is excited about the growth potential offered by the capital markets in the country and has increased its headcount for offering the stock broking services.
"We already have over 60 employees in India and the process is on for starting Goldman Sachs brokerage in the country," Entwistle said.
Goldman Sachs had ended a ten-year partnership with Kotak Mahindra Bank in March last year and had received licenses for investment banking and stockbroking operations in the country in December last year.
The global major has acquired five per cent stake in National Stock Exchange, India's largest bourse. The firm already holds over seven per cent stake in NCDEX, the commodity exchange.
