The two new products are part of the company's revival strategy plans in India where it has been struggling to win consumers.
"All these are part of the jigsaw that we are putting together. We are understanding what is needed for Fiat to be great again in India," Fiat Chrysler Automobiles India President and Managing Director Kevin Flynn said.
He said the Abarth Punto is designed indigenously and is a 'homegrown, home engineered' product that is targeted at racing enthusiasts.
The Abarth Punto, powered by a 1.4 litre petrol engine, delivers power of 145 hp.
Flynn said the company is also widening and strengthening its product portfolio with the introduction of Avventura powered by Abarth, also powered by a 1.4 litre petrol engine with a power of 140 hp.
"We are confident that these two new category defining models from Fiat stable would catch the fancy of car enthusiasts and perk up sales during the festive season," Flynn added.
Stating that India forms a 'massive part' of the company's plans, he said, "we are really determined to bring more upmarket products here."
At present, Fiat has a capacity to produce 1.35 lakh cars per annum from the plant. In 2014, Fiat Chrysler had announced plans to launch 12 models in India in five years.