Goldman Sachs Group Inc. plans to ramp up its credit score enterprise in India and sees an growing alternative to focus on the nation’s rich diaspora as international traders shift their focus from China to what’s now the world’s fastest-growing main economic system.

The funding financial institution needs to broaden the vary of loans it affords by its shadow banking unit, in response to Sonjoy Chatterjee, chairman and chief govt officer for Goldman in India. The agency additionally plans to get a license to scale up in foreign money buying and selling, which might permit Goldman to cope with any counterparty similar to monetary traders, fairness clients or a company buyer, he stated in an interview.