American investment giant Goldman Sachs is planning to hire more than employees in India by 2023 as it looks to bolster its operations globally.

The news comes as the company opens its new office in Hyderabad as part of its effort to bolster its global centre for engineering and business innovation in the country.

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Goldman Sachs chairman and CEO David Solomon said that the new office will serve as a crucial innovation hub for a range of the company’s businesses and enhance its reputation as a global firm.

Owing to the ongoing pandemic situation in India, Goldman started its Hyderabad operations remotely in March. The new facility currently employees about 250 people.

“By the end of 2021 it is expected that the Hyderabad office will grow to 800 employees of which about 70% employees will be new hires.

“By 2023 the size of Hyderabad office could reach as many as 2,500 employees.” Goldman said in a press statement.

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Hiring plans in other markets

In April this year, Bloomberg reported that Goldman Sachs is planning to expand its workforce by 40% in Nordic region as part of its strategy to grab a bigger share of the asset management and investment banking service in the region.

In May this year, a report by Bloomberg said that the firm had been ramping up its employee headcount in mainland China and Hong Kong in the first four months of the year.

The report added that the firm was in the process of recruiting 320 staff, including 70 resources to focus on investment banking coverage.

In this March, Goldman Sachs unveiled plans to hire around 100 new people in Singapore, a move that will increase its headcount in the Southeast Asian financial hub to over 1,000.