Silver Crest to set up ₹100-cr garment unit in Andhra
February 16, 2019 - India
Silver Crest Clothing Private Limited recently signed an agreement with the Andhra Pradesh Economic Development Board (APEDB) to set up of a ₹100-crore readymade garment manufacturing unit in the state. With an annual capacity of 20.4 million units, the factory is expected to generate direct employment for over 2,250 and indirect employment for 250.
The agreement was signed by APDEB chief executive officer J Krishna Kishore and Silver Crest director Jeet Golcha, according to a report in a top business daily in India.
Set up in 1995, Silver Crest manufactures fine tailored clothing in South Asia and high quality suits for several US brands, with a growing presence in France and UK. It has a capacity to make over four million garments per year across four units in Bengaluru and employs 7,700.
Andhra Pradesh unveiled a new textile policy for 2018-23 that aims to attract investments worth ₹15,000 crore and create 2.5 lakh jobs. (DS)