Mobile Banking is Easier in India Than US: Qualcomm's Savi Soin

The rapid rise of digital payments in India shows that the country has adopted mobile banking with more ease than the United States, where people have historically relied more on laptops and personal computers for banking tasks, according to a top executive of smartphone chipset major Qualcomm.

"Qualcomm is dedicated to innovation and scale of Qualcomm's commitment to India is huge. India is a great market for GenAI and we're also excited about the great talent that the country has to offer," said the company's India President Savi Soin, speaking on the 2nd day of the India Mobile Congress in the national capital on October 16.

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He added that Qualcomm has one of the world's best technologies, and it is committed to bringing the best of GenAI to India and doubling down on the use cases on mobile phones. He proclaimed that India is on the way to strengthening itself on the designing and manufacturing front, which will boost the ecosystem further.

Earlier this year, Qualcomm had announced that it is doubling down on its India investments and had also initiated talks with major chip manufacturers to locally produce chips under the government of India's incentives. The US semiconductor major's investments in India have grown in double digits, over the past five years.

India has recently become Qualcomm's largest engineering base, surpassing it's operations in the United States, and the company is also planning to increase it's hiring in the country and expand solutions across sectors like 5G, IoT, AI etc.