Indian glass & crystal tableware maker La Opala RG Ltd. has decided to cut prices & launch lighter & tougher versions of its products in the face of competition from multinationals & an increase in cheap imports from China. "We will bring down prices of our tableware by at least 10%", said MD Sushil Jhunjhunwala. La Opala's new 4,000/t plant at Sitargunj in Uttarakhand, set up with an investment of INR 370M, will be operational by Sept/07, giving it the volumes to bring down prices. It is also coming up with a new lighter & almost unbreakable variant of opal. "We are using new technologies at the fully automated Sitarganj plant to make the tableware lighter & almost unbreakable", said deputy-MD Ajit Jhunjhunwala. Multinationals such as Corelle, Luminarc & RAK Glass have entered India's INR 30BN tableware market in the last four years. In addition, cheap imports from China have hit domestic manufacturers. La Opala reported a net profit of INR 46 million on a turnover of INR 540 million during the year to 31 March 2007, against profit of INR 43 million on turnover of INR 460 million the previous year. It is aiming for turnover of INR 800 million in the current fiscal year and exports of INR 200 million against INR 140 million in 2006. "We are eyeing new markets in Latin America, North America and Japan", said Ajit Jhunjhunwala.
