Silver Crest will set up a readymade garment manufacturing unit in Andhra Pradesh. The factory will have a capacity of 20.4 million units a year and employ some 2500 people. Established in 1995, Silver Crest is a major manufacturer of fine tailored clothing in South Asia and a manufacturer of high quality suits for an array of leading brands across the US, with a growing presence in France and the UK.
The firm has a capacity to make over four million garments a year across four facilities in Bangalore and currently employs 7700 people. The firm has captured a significant share of tailored clothing and caters to many international clients.
Textiles are a priority sector for Andhra Pradesh and the state envisages increasing productivity and efficiency in the cotton-to-garment value chain. The new textile policy is industry-friendly and aims at attracting investments worth Rs 15,000 crores and creating 2.5 lakh jobs. The state aims at increasing productivity and efficiency by attracting integrated textile units.
The new policy aims to make the state a seed capital by setting up of seed industries. A seed park will be set up. The hope is to attract Rs 3000 crores in investments and create 40,000 jobs by 2023 through this park.
