Graph theory plays crucial role in structuring many real-world problems including, medical sciences, control theory, expert systems and network security. Product in graphs, an operation that consider two graphs and produce a new graph by simple or complex changes, has wide range of applications in games theory, automata theory, structural mechanics and networking system. An intuitionistic fuzzy model is used to handle the vagueness and uncertainty in network problems. A Pythagorean fuzzy model is a powerful tool for describing vagueness and uncertainty more accurately as compared to intuitionistic fuzzy model. The objective of this paper is to apply the concept of Pythagorean fuzzy sets to graphs and then combine two Pythagorean fuzzy graphs (PFGs) using two new graph products namely, maximal product and the residue product. This research paper investigates the regularity for these products. Moreover, it discusses some eminent properties such as strongness, connectedness and completeness. Further, it proposes some necessary and sufficient conditions for G1∗G2\documentclass[12pt]{minimal}
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\begin{document}$${\mathscr {G}}_{1}*{\mathscr {G}}_{2}$$\end{document} and G1·G2\documentclass[12pt]{minimal}
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\begin{document}$${\mathscr {G}}_{1}\cdot {\mathscr {G}}_{2}$$\end{document} to be regular. Finally, decision-making problems concerning evaluation of best company for investment and alliance partner selection of a software company are solved to better understand PFGs.