HS Code:
The 'Cords and Tassels' category, classified under HS Code 5808, includes braided cords, tassels, pompons, and similar articles used primarily in clothing, home decor, and other textile applications. These products are often made from materials such as cotton, silk, wool, or synthetic fibers and serve both functional and decorative purposes. This category is a niche but significant segment of the broader textile industry, with applications in fashion, upholstery, and traditional crafts.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Decreasing
Average Rate
8.5%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-India FTA for specific partners)
Growing demand for sustainable and eco-friendly materials
Increased use of organic cotton and recycled fibers in cords and tassels, driven by consumer preference for environmentally conscious products, particularly in Europe and North America.
2021-2022
Rise in home decor and DIY craft markets
Boost in demand for decorative tassels and cords due to increased consumer interest in home improvement and personalized crafts, especially post-COVID-19.
2020-2022
Shift towards automation in production
Reduction in production costs and improvement in quality consistency, particularly in major exporting countries like China, though it poses challenges for small-scale artisans in countries like India.
2019-2022
The European Union introduced stricter labeling requirements for textile accessories, including cords and tassels, to ensure transparency in material sourcing and environmental impact.
March 2023
Exporters to the EU must adapt to new compliance costs, potentially increasing prices but also enhancing consumer trust in sustainable products.
A revised trade agreement between the US and China reduced tariffs on certain textile categories, including cords and tassels, to promote bilateral trade.
January 2023
Increased export opportunities for Chinese manufacturers to the US market, potentially affecting domestic producers and other competing exporters.
The Indian government introduced a rebate scheme for textile exports, including cords and tassels, to boost competitiveness in the global market.
September 2022
Expected to increase India's market share, particularly in the EU and Middle Eastern markets, by making products more price-competitive.