NE BUSINESS BUREAU
AHMEDABAD, OCT 12
Stating that India was importing 50% glass stock from China until now. Under the ‘Aatmanirbhar Bharat’ and ‘Vocal for Local’ initiatives, the import of glasses from China has been reduced by 30 to 35 per cent. To cash in on this, Ainakwala’s production units in Vadodara and Mumbai have doubled their production capacity in last three months, said a senior official of the company here on Saturday.
Speaking to the media at the launching ceremony of the 10th store in city, Rahul Tated, founder of the Ainakwala Company, said, “We have started the business with opening up of four stores in Ahmedabad in 2019; and in the last three months we have launched six more new stores. In the next one year’s time, we are planning to expand our business by opening up to 20 stores in Ahmedabad and Gandhinagar regions and 50 stores across the state. Our company’s production units are based in Vadodara and Mumbai; both of these units have doubled their production capacity in last three months’ time.”
At present, the country’s glasses market is estimated to be around Rs. 1,200-crore and its expanding at a rapid speed. So far, India was importing 50 % stock of its market from China. However, the government’s initiatives such as ‘Aatmanirbhar Bharat’ and ‘Vocal for Local’ in the post–Corona pandemic time have given lots of inspiration to start production at the local level. As result of this, the import of glasses from China has been reduced by 30 to 35 per cent, Tated added.
Giving a noticeable contribution to the ‘Aatmanirbhar Bharat’ mission of Government of India, the Ainakwala Company has setup its own state-of-art in-house glasses manufacturing units, where the company is producing vast variety of glasses that match with international standards and quality. The company is possessing renowned brands such as ‘Elevate’ and ‘17-hours’, which are offering the best qualitative glasses at competitive price to the customers of all ranges. At present, the company possesses wide variety of frames, sun-glasses, glasses, lenses for both, male and female customers of all age groups and classes. And, the company’s plan is on afoot to expand its ranges further in very near future.
It is significant that the company’s directors have invested Rs. 2-crore for providing the needed boost to the company’s distribution plan. Besides this, Rs. 1.25-crore were raised through franchisees. If needed the company would make additional investment of Rs. 3-crore for expanding its number of stores to 50 across Gujarat. Above all, the company also has a plan to raise another Rs. 5-crore through franchisees for achieving its target of setting up 100-stores in next five years in Gujarat.
Presently, the company’s stores are located in South Bopal, Adani Shantigram, Sindhubhavan, Naranpura, Satellite, Shivranjani, Bhuyangdev, and Gota areas of the city.
