Federal Card Services eyes expanding India biz

Earlier this month, the corporate introduced it will likely be investing $250 million in India and as a part of this growth, it’s growing its first Indian manufacturing facility in Pune
| Photograph Credit score:
Kunakorn Rassadornyindee

Federal Card Providers (FCS), a worldwide participant in premium steel and sustainable cost playing cards, goals to broaden its India enterprise and open a brand new workplace in Mumbai by 2026-end, CEO Matías Gainza Eurnekian instructed businessline in an interplay.

Earlier this month, the corporate introduced it will likely be investing $250 million in India and as a part of this growth, it’s growing its first Indian manufacturing facility in Pune.

“We can be operative in Pune in Q1 subsequent yr, our civil work is already executed. We’re in a certification course of and we’ll transfer our R&D centre as effectively to Pune, and now we’re hiring for future sure abilities which might be gonna begin our operations in India. The plan is to launch an workplace in Mumbai in between October to December subsequent yr,” he stated.

FCS plans to problem 2 million playing cards from its Pune facility subsequent yr, of which 10 per cent could be catered in the direction of home market and relaxation for the worldwide market.

“Then the expansion of the amount that we’re planning is as much as not less than 25 million items being executed in India and principally we’ll export worldwide besides the US as a result of we have now our native facility there,” he stated, including that the corporate will initially rent 300-400 workers in India and take the worker headcount to 1,000 over a time period.

The corporate presently works with Axis Financial institution, VISA, Mastercard, and FPL Applied sciences (OneCard) in India and is approaching “each single financial institution” in India to be part of their know-how ecosystem, Eurnekian stated.

Revealed on November 25, 2025