Goldman Sachs Group Inc. plans to ramp up its credit business in India and sees an increasing opportunity to target the nation’s wealthy diaspora as global investors shift their focus from China to what is now the world’s fastest-growing major economy.

The investment bank wants to broaden the range of loans it offers through its shadow banking unit, according to Sonjoy Chatterjee, chairman and chief executive officer for Goldman in India. The firm also plans to get a license to scale up in currency trading, which would allow Goldman to deal with any counterparty such as financial investors, equity customers or a corporate customer, he said in an interview.