US-based global investment banking major Goldman Sachs today said it will invest one billion dollar in India for expanding operations in sectors like real estate and infrastructure.

“The company will make capital investment of one billion dollar across sectors including real estate and infrastructure over the next two years,” Goldman Sachs India LLC CEO L Brooks Entwistle said on the sidelines of a CII conference.

“India is increasingly playing an important role in the world economy. We believe in this country’s long-term story,” he said.

Without singling out any particular sector, he said: “We are looking at all sectors for investment in the country.”

Goldman Sachs also plans to set up its businesses in the country, including investment banking and asset management.

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Liberalisation has made India a sought after destination for investment. India has a vast pool of entrepreneurial aptitude that is capable of a global competition. A low labor cost and a rapidly growing middle class add to the attractiveness of the Indian market as an investment opportunity.

To consolidate its position and become globally competitive, India needs business process expertise, access to capital and wider market coverage. It is at this stage venture capital comes in, to provide resources to a budding entrepreneur.

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By Garnet Heraman

The wealth generated by India’s fast-growing information technology and business-process-outsourcing industries shows that the country has started living up to its economic potential. Unfortunately, they produce just 3 percent of GDP and employ less than one-half of 1 percent of the nonfarm labor force. By contrast, most sectors of India’s economy remain shielded from global competition by high tariffs and restrictions on foreign direct investment and are thus woefully uncompetitive. Although some might argue that removing these barriers would threaten social objectives such as the protection of jobs and incomes, a robust economy would be more likely to realize them.

The take-away

If India is to replicate the success of its IT and outsourcing industries elsewhere in its economy, its leaders must lower barriers to trade and encourage foreign investment in other sectors.