Thomas Cook India Expands Forex Services with New Guwahati Outlet
Filing Summary
Thomas Cook (India) Limited has opened a new foreign exchange outlet in Guwahati, Assam, expanding its network to three locations in the region. This move aligns with the company’s strategy to enhance its presence in high-growth markets. The new outlet offers a range of services, including prepaid travel cards, overseas education forex, and remittances. The expansion supports the company’s omnichannel “phygital” strategy, integrating physical and digital platforms. The outlet aims to cater to the increasing demand for foreign exchange services in Guwahati, driven by rising outbound travel and student segments.
Thomas Cook (India) Limited has inaugurated a new foreign exchange outlet in Guwahati, Assam. This expansion increases the company’s presence to three locations in the region, including an existing outlet at Lokpriya Gopinath Bordoloi International Airport. The new outlet is part of Thomas Cook India’s strategy to strengthen its footprint in high-growth regional markets, particularly in response to the rising demand for foreign exchange services in Assam and the broader Northeast region.
The new outlet offers a comprehensive range of foreign exchange services. These include prepaid travel cards in partnership with Mastercard and Visa, such as the Borderless Travel card and the FX Enterprise card. The outlet also provides services for the overseas education sector, including the Study Buddy card for tuition fee transfers and living expenses. Additionally, the outlet offers currency exchange for 26 global currencies and overseas remittance services covering over 120 countries.
The operational scope of the new outlet is designed to cater to a diverse customer base, including multigenerational families, students, and working professionals. The outlet is strategically located in a high-visibility area to serve Guwahati’s consumers who prefer established financial service providers. The outlet is an extension of Thomas Cook India’s omnichannel “phygital” strategy, which integrates physical retail stores with digital platforms, allowing customers to initiate transactions in-store and complete them online or vice versa.
The timeline for the outlet’s operations is immediate, with services available to customers from the date of inauguration. The outlet is expected to handle increasing walk-in enquiries and digital interactions from the Guwahati region, reflecting the city’s growing demand for foreign exchange services.
Thomas Cook (India) Limited is the primary entity involved in this expansion. The company is responsible for the operation and management of the new outlet. The outlet’s services are supported by Thomas Cook India’s digital innovations, including its Forex App, FX Mate, and V-KYC capabilities, as well as the Forex on WhatsApp service, which provides 24×7 access to foreign exchange services.
Guwahati is emerging as a significant market for foreign exchange services due to its role as a gateway to Northeast India. The city has seen a steady rise in foreign exchange demand, driven by increasing outbound leisure travel, a growing student segment, and strong business activity. The presence of leading student counselling organisations and the anticipated boost from direct international connectivity with the new terminal at LGBI further enhance Guwahati’s potential as a key forex market.
Thomas Cook (India) Limited is a leading omnichannel travel company in India, offering a broad spectrum of services, including foreign exchange, corporate travel, and leisure travel. The company operates a network of over 125 forex stores across India and serves over 1 million customers annually. Thomas Cook India is committed to expanding its regional access and meeting the evolving needs of its customers through its integrated physical and digital service offerings.