Goldman Sachs, which has been serving clients in India since the 1980s, operates its largest office outside the United States in the country.

Goldman Sachs Group has opened a new office in Mumbai’s Worli business district as part of its expansion in India, Bloomberg reported on Monday. The New York-headquartered investment bank said the new premises are around 50% larger than its previous location in the city, reflecting its growth ambitions in the world’s fourth-largest economy.

“Our new Mumbai office is the next chapter in our multi-decade growth trajectory in India, underscoring the substantial opportunities we see in the market," Bloomberg quoted Kevin Sneader, the firm’s Asia Pacific (ex-Japan) president, as saying.

Global financial firms, including Wall Street lenders and private equity houses, have been increasing their presence in India amid growing opportunities in the country’s financial sector.

Goldman Sachs, which has been serving clients in India since the 1980s, operates its largest office outside the United States in the country, according to the report.