What are the prospects of getting the job after LPI certifications? I do not think LPI is quite popular in India.
The point is, if you do some certification that is good (which LPI is), before majority of the others do it, you can get the most out of your certification. If you do a certification which is not very good, then you would have wasted your time. Today you might find RHCE's everywhere, to add value to your resume, you need more than RHCE (workex for example). Workex does not come without working, alternative is some more certification. LPI level 1 is very good. I have completed LPI 1, 2 SCLP, RHCE myself.