Andhra Pradesh Economic Development Board (APEDB) chief executive officer, J Krishna Kishore has pointed out a new textile policy for 2018-23. It aims to attract investments worth Rs. 15,000 crore and create employment opportunity for 2.5 lakh people.

Recently, Kishore said while signing an agreement with the Bengaluru-based manufacturer Silver Crest Clothing Private Limited to set up 100 crores readymade garment manufacturing unit in Andhra Pradesh. The Memorandum of Understanding (MoU) was signed by APEDB officer Kishore and Silver Crest director, Jeet Golcha in the presence of AP chief secretary Anil Chandra Punetha.

Kishore said, “the MoU is a step in the right direction as textiles is a priority sector for Andhra Pradesh, which envisages  increasing productivity and efficiency in the cotton to the garment value chain.”

Set up in 1995, the company is a leading manufacturer in finely tailored clothing in South Asia and high-quality suits for several US brands, with a growing presence in France and UK. The company has a capacity to make over four million garments per year across four units in Bengaluru, India and employs 7,700 people.

– Indian Apparel, Apparel Talk, Apparel and Textile News