Citigroup (C.N), opens new tab he headcount in its India investment banking unit, betting on a surge in equity capital market and M&A deals in one of the world’s fastest growing economies, a top country executive said.

“We haven’t firmed up the numbers, but it would be a meaningful increase between this year and next year,” Rahul Saraf, managing director and head of India investment banking unit, which currently has around 30 dealmakers, told Reuters.