Owing to the passive nature of liquid crystal (LC) materials, achieving luminous displays using pure LC materials is challenging. In addition, it is difficult to achieve a fast switching time using pristine ferroelectric LC devices without compromising their cell thickness. Herein, we have developed a fast switching and highly luminescent electro-optical device by dispersing a minute concentration of bimetallic nanoparticles (Au@Ag NPs) having a spherical gold core and a silver shell within a ferroelectric liquid crystal (FLC) host matrix, ZLI3654. Au@Ag core-shell NPs having synergic attributes of both counterparts were successfully synthesized by a facile seed-mediated route. The Au core helps to tune the shape of the Ag shell and provides enhanced electron density as well as improved stability against oxidation. Introducing nanoparticles induces little structural modifications to the host FLC, resulting in an improvement in the mesogenic alignment. Interestingly, ∼29-fold enhancement in the photoluminescence (PL) intensity is observed on dispersing 0.25 wt% of Au@Ag NPs into the FLC host matrix. The enhanced electromagnetic field in the FLC-nanocomposite is attributed to the Localized Surface Plasmon Resonance of Au@Ag NPs, which strengthens the photon absorption rates by the FLC molecules, culminating in the massive enrichment of the PL intensity. In addition, the improved localized electric field inside the FLC device led to a noticeable enhancement in the spontaneous polarization, dielectric permittivity, and, most interestingly, ∼53% fastening in the switching time at an optimum concentration (0.25 wt%) of Au@Ag NPs. The improved electro-optical parameters of the Au@Ag NPs/FLC composite have been compared with the performance of both pristine Au NPs/FLC and Ag NPs/FLC composites, respectively, for the comprehensiveness of the study. The present study paves a systematic way to develop FLC-based advanced electro-optical devices with faster switching and higher luminescence properties.