- India's labor force is unlikely to face widespread job losses from artificial intelligence, according to Goldman Sachs Group's Chief India economist Santanu Sengupta.
- Sengupta noted that the impact of AI on jobs in India will be limited compared to many other countries.
- Goldman Sachs is currently courting investors for Nvidia's $500bn AI-compute financing deal, having secured a leading role in the initiative.
- Sengupta explained that the large workforce in India is primarily engaged in mechanical or physical tasks, which reduces the risk of job losses due to AI.
- Goldman Sachs has a long-standing relationship with Nvidia, having previously led the chipmaker's $25bn bond sale in June 2025.
- The AI-compute financing deal aims to create an asset-backed market for AI compute, allowing the debt to trade like a traditional security.
Goldman Sachs asserts that India's labor force is less vulnerable to AI job losses than many other countries, with Chief India economist Santanu Sengupta noting that the impact will be limited, particularly in the services sector.1
“The main reason is because our workforce is pretty large, and a lot of them are in more mechanical or physical kind of tasks,” Sengupta explained.
Concurrently, Goldman Sachs is actively engaging with investors regarding Nvidia's $500 billion AI-compute financing deal. The bank has secured a significant role as the lead lender in this major infrastructure funding initiative, which aims to create a tradable market for AI compute assets.6
Goldman has a longstanding relationship with Nvidia, having previously led a $25 billion bond sale for the chipmaker. This history has positioned Goldman favorably in the current financing landscape.
The deal, which was unveiled on August 10, involves a consortium including Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR, aimed at mobilizing third-party capital without tying up the founders' balance sheets.
Goldman’s CEO David Solomon remarked on the collaboration, stating, “Jensen came, approached us with the idea, and we said we’d love to talk to you about it.” This partnership allows Goldman to benefit from multiple income streams, enhancing its financial stability amid the evolving AI landscape.
“Sengupta cited India's large workforce engaged in mechanical or physical tasks as the main reason for limited AI impact, speaking with Bloomberg Television's Menaka Doshi. Separately, Goldman's role as lead lender on the Nvidia deal builds on its history of leading the chipmaker's $25bn bond sale in June 2025.”
