Indian media reported that Xavi had applied for the role.
Xavi has been without a team since being let go by Barcelona in June 2024.
Guardiola, one of the top coaches in the sport, is under contract with City through June 2027.
India is looking to replace Spanish coach Manolo Márquez after he left the position by mutual consent earlier this month following just one win in eight games, and less than a year in the job.
The federation said Saturday that it has narrowed a group of 170 applicants to three unnamed finalists.
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AP soccer: https://apnews.com/hub/soccer