HS Code:
The category 'Containing 70 percent or more by weight of silk or silk waste' (HS Code: 5007) pertains to woven fabrics of silk or silk waste, where silk constitutes at least 70% of the material by weight. This includes a range of products such as silk sarees, scarves, dresses, and other high-value textile items often associated with luxury and traditional craftsmanship. Silk fabrics in this category are primarily used in the fashion and apparel industry, with significant cultural and economic value in countries with a history of silk production and weaving.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
8.5%
Highest Rate
15% (applied by certain developing countries to protect local textile industries)
Lowest Rate
0% (under free trade agreements such as EU-India FTA for specific partners)
Growing demand for sustainable and ethical silk production
Increased focus on cruelty-free silk (Ahimsa silk) and organic production methods, driving market shifts towards eco-conscious consumer bases in Europe and North America.
2021-2022
Rising popularity of silk in luxury fashion
Boost in exports from traditional silk-producing countries like China and India to high-end markets in the US and EU, though tempered by supply chain disruptions.
2020-2022
Technological advancements in silk processing
Innovations in weaving and finishing techniques have reduced production costs in some regions, making silk products more competitive against synthetic alternatives.
2019-2022
China has ramped up silk production and exports following global supply chain recovery, with a focus on high-quality silk fabrics meeting international standards.
March 2023
Strengthened China's dominance in the global silk market, putting pressure on smaller exporters like Thailand and Vietnam.
The Indian government introduced subsidies and training programs under the National Silk Policy to boost domestic production and export of silk fabrics, particularly targeting traditional weaves.
January 2023
Expected to increase India's market share in the coming years, though challenges remain in scaling up to meet global demand.
The European Union reduced tariffs on silk imports from select Asian countries under new trade agreements, aiming to diversify supply sources for luxury fashion houses.
September 2022
Likely to benefit exporters like India and Thailand, while potentially reducing Italy's domestic silk market share.