diff --git a/cmd/main.go b/cmd/main.go
index c7dd6faf..7e793393 100644
--- a/cmd/main.go
+++ b/cmd/main.go
@@ -49,10 +49,11 @@ func init() {
 }
 
 var (
-	endpoint       = flag.String("endpoint", "unix:/tmp/csi.sock", "CSI endpoint")
-	metricsAddress = flag.String("metrics-address", "0.0.0.0:9080", "Metrics address")
-	vendorVersion  string
-	logger         *zap.Logger
+	endpoint             = flag.String("endpoint", "unix:/tmp/csi.sock", "CSI endpoint")
+	metricsAddress       = flag.String("metrics-address", "0.0.0.0:9080", "Metrics address")
+	extraVolumeLabelsStr = flag.String("extra-labels", "", "Extra labels to tag all volumes created by driver. It is a comma separated list of key value pairs like '<key1>:<value1>,<key2>:<value2>'.")
+	vendorVersion        string
+	logger               *zap.Logger
 )
 
 const (
@@ -91,7 +92,7 @@ func handle(logger *zap.Logger) {
 	logger.Info("Controller Mutex Lock enabled", zap.Bool("LockEnabled", *utils.LockEnabled))
 	// Setup Cloud Provider
 	configPath := filepath.Join(config.GetConfPathDir(), configFileName)
-	ibmcloudProvider, err := cloudProvider.NewIBMCloudStorageProvider(configPath, logger)
+	ibmcloudProvider, err := cloudProvider.NewIBMCloudStorageProvider(configPath, *extraVolumeLabelsStr, logger)
 	if err != nil {
 		logger.Fatal("Failed to instantiate IKS-Storage provider", zap.Error(err))
 	}
diff --git a/go.mod b/go.mod
index 3775703f..ef260c18 100644
--- a/go.mod
+++ b/go.mod
@@ -3,9 +3,9 @@ module github.com/kubernetes-sigs/ibm-vpc-block-csi-driver
 go 1.16
 
 require (
-	github.com/IBM/ibm-csi-common v1.0.1-beta5
-	github.com/IBM/ibmcloud-volume-interface v1.0.1-beta4
-	github.com/IBM/ibmcloud-volume-vpc v1.0.1-beta5
+	github.com/IBM/ibm-csi-common v1.0.1-beta7
+	github.com/IBM/ibmcloud-volume-interface v1.0.1-beta5
+	github.com/IBM/ibmcloud-volume-vpc v1.0.1-beta7
 	github.com/container-storage-interface/spec v1.5.0
 	github.com/golang/glog v0.0.0-20160126235308-23def4e6c14b
 	github.com/google/uuid v1.1.2
diff --git a/go.sum b/go.sum
index 555a5ec4..5f91c064 100644
--- a/go.sum
+++ b/go.sum
@@ -55,12 +55,12 @@ github.com/IBM-Cloud/ibm-cloud-cli-sdk v0.6.7 h1:eHgfQl6IeSmzWUyiSi13CvoFYsovoyq
 github.com/IBM-Cloud/ibm-cloud-cli-sdk v0.6.7/go.mod h1:RiUvKuHKTBmBApDMUQzBL14pQUGKcx/IioKQPIcRQjs=
 github.com/IBM/go-sdk-core/v5 v5.9.1 h1:06pXbD9Rgmqqe2HA5YAeQbB4eYRRFgIoOT+Kh3cp1zo=
 github.com/IBM/go-sdk-core/v5 v5.9.1/go.mod h1:axE2JrRq79gIJTjKPBwV6gWHswvVptBjbcvvCPIxARM=
-github.com/IBM/ibm-csi-common v1.0.1-beta5 h1:QjgaIDPa1OPQXetDh+ZbgnboR06s8Ybmwo+ZJZscVDM=
-github.com/IBM/ibm-csi-common v1.0.1-beta5/go.mod h1:wRzyBmb6yGf3d1TTcrIt9xlLK6NK3QWNOd9KzRG1/pU=
-github.com/IBM/ibmcloud-volume-interface v1.0.1-beta4 h1:h5vUOeIitxpLTV/iD6F8OvuxHvvHoMDaZu3VXcUMfjw=
-github.com/IBM/ibmcloud-volume-interface v1.0.1-beta4/go.mod h1:v1aT8G3Tib8pCwdr9VweNFYa94GejBuqIVTysoaVI0g=
-github.com/IBM/ibmcloud-volume-vpc v1.0.1-beta5 h1:FJk99J6Bk5WFI/EOmlVtxX2JXJMURlkezPJLjvS6+A0=
-github.com/IBM/ibmcloud-volume-vpc v1.0.1-beta5/go.mod h1:nB0Pk0f7Prvl99DtQRUfpkQdAzFXv34Dd1lkCQrlJyQ=
+github.com/IBM/ibm-csi-common v1.0.1-beta7 h1:phljcQfBBKtG6F2Q/hiqayrWJC+w0EtNvUWCXGsiox0=
+github.com/IBM/ibm-csi-common v1.0.1-beta7/go.mod h1:k6IHdSHGnsnGOxzqir3n9kczW+ttL+KcRZh/chLyyuk=
+github.com/IBM/ibmcloud-volume-interface v1.0.1-beta5 h1:XPNIrp4g7oEx7QOy6eB98jZs7n1tB6DTsUjEigOhouM=
+github.com/IBM/ibmcloud-volume-interface v1.0.1-beta5/go.mod h1:v1aT8G3Tib8pCwdr9VweNFYa94GejBuqIVTysoaVI0g=
+github.com/IBM/ibmcloud-volume-vpc v1.0.1-beta7 h1:3cQCvlTx9fQhBDYm2bn51nebRrLgZGwfAzLu7Zp/gvc=
+github.com/IBM/ibmcloud-volume-vpc v1.0.1-beta7/go.mod h1:CFBvpt4SKwf0mQg3u53qkZ5SxZH9gZSfdhWBa8GIP3Y=
 github.com/IBM/secret-common-lib v1.0.3 h1:rhhAtAE1ANSuxhA8Nulzzc2IbXWHGE8reoRSr98rRi8=
 github.com/IBM/secret-common-lib v1.0.3/go.mod h1:uoYY5M9G1nJVT8ytPIicdTUujcBXKldBw7ijWolU0yU=
 github.com/IBM/secret-utils-lib v1.0.2 h1:AdhKHo/bMmFLMz7+ZjnqSUHuU22CMQsG5meddvwKaV8=
diff --git a/vendor/github.com/IBM/ibm-csi-common/pkg/ibmcloudprovider/volume_provider.go b/vendor/github.com/IBM/ibm-csi-common/pkg/ibmcloudprovider/volume_provider.go
index ba8bc522..0d01f88f 100644
--- a/vendor/github.com/IBM/ibm-csi-common/pkg/ibmcloudprovider/volume_provider.go
+++ b/vendor/github.com/IBM/ibm-csi-common/pkg/ibmcloudprovider/volume_provider.go
@@ -45,7 +45,7 @@ type IBMCloudStorageProvider struct {
 var _ CloudProviderInterface = &IBMCloudStorageProvider{}
 
 // NewIBMCloudStorageProvider ...
-func NewIBMCloudStorageProvider(configPath string, logger *zap.Logger) (*IBMCloudStorageProvider, error) {
+func NewIBMCloudStorageProvider(configPath string, clusterVolumeLabel string, logger *zap.Logger) (*IBMCloudStorageProvider, error) {
 	logger.Info("NewIBMCloudStorageProvider-Reading provider configuration...")
 	// Load config file
 	conf, err := config.ReadConfig(configPath, logger)
@@ -80,6 +80,9 @@ func NewIBMCloudStorageProvider(configPath string, logger *zap.Logger) (*IBMClou
 		logger.Info("Fetched clusterInfo..")
 	}
 
+	//Initialize the clusterVolumeLabel once which will be used for tagging by the library.
+	conf.VPC.ClusterVolumeLabel = clusterVolumeLabel
+
 	// Update the CSRF  Token
 	if conf.Bluemix.PrivateAPIRoute != "" {
 		conf.Bluemix.CSRFToken = string([]byte{}) // TODO~ Need to remove it
diff --git a/vendor/github.com/IBM/ibmcloud-volume-interface/config/config.go b/vendor/github.com/IBM/ibmcloud-volume-interface/config/config.go
index 0c80a3a2..046e0973 100644
--- a/vendor/github.com/IBM/ibmcloud-volume-interface/config/config.go
+++ b/vendor/github.com/IBM/ibmcloud-volume-interface/config/config.go
@@ -182,7 +182,8 @@ type VPCProviderConfig struct {
 	// IKSTokenExchangePrivateURL, for private cluster support hence using for all cluster types
 	IKSTokenExchangePrivateURL string `toml:"iks_token_exchange_endpoint_private_url"`
 
-	IsIKS bool `toml:"is_iks,omitempty"`
+	IsIKS              bool `toml:"is_iks,omitempty"`
+	ClusterVolumeLabel string
 }
 
 //IKSConfig config
diff --git a/vendor/github.com/IBM/ibmcloud-volume-vpc/block/provider/create_volume.go b/vendor/github.com/IBM/ibmcloud-volume-vpc/block/provider/create_volume.go
index d1358a96..f26e35da 100644
--- a/vendor/github.com/IBM/ibmcloud-volume-vpc/block/provider/create_volume.go
+++ b/vendor/github.com/IBM/ibmcloud-volume-vpc/block/provider/create_volume.go
@@ -39,7 +39,7 @@ func (vpcs *VPCSession) CreateVolume(volumeRequest provider.Volume) (volumeRespo
 	defer metrics.UpdateDurationFromStart(vpcs.Logger, "CreateVolume", time.Now())
 
 	vpcs.Logger.Info("Basic validation for CreateVolume request... ", zap.Reflect("RequestedVolumeDetails", volumeRequest))
-	resourceGroup, iops, err := validateVolumeRequest(volumeRequest)
+	resourceGroup, iops, err := validateVolumeRequest(&volumeRequest, vpcs.Config.VPCConfig.ClusterVolumeLabel)
 	if err != nil {
 		return nil, err
 	}
@@ -50,6 +50,7 @@ func (vpcs *VPCSession) CreateVolume(volumeRequest provider.Volume) (volumeRespo
 		Name:          *volumeRequest.Name,
 		Capacity:      int64(*volumeRequest.Capacity),
 		Iops:          iops,
+		UserTags:      volumeRequest.VPCVolume.Tags,
 		ResourceGroup: &resourceGroup,
 		Profile: &models.Profile{
 			Name: volumeRequest.VPCVolume.Profile.Name,
@@ -99,7 +100,7 @@ func (vpcs *VPCSession) CreateVolume(volumeRequest provider.Volume) (volumeRespo
 }
 
 // validateVolumeRequest validating volume request
-func validateVolumeRequest(volumeRequest provider.Volume) (models.ResourceGroup, int64, error) {
+func validateVolumeRequest(volumeRequest *provider.Volume, clusterVolumeLabel string) (models.ResourceGroup, int64, error) {
 	resourceGroup := models.ResourceGroup{}
 	var iops int64
 	iops = 0
@@ -145,5 +146,11 @@ func validateVolumeRequest(volumeRequest provider.Volume) (models.ResourceGroup,
 		// get the resource group ID from resource group name as Name is not supported by RIaaS
 		resourceGroup.Name = volumeRequest.VPCVolume.ResourceGroup.Name
 	}
+
+	//Append the clusterVolumeLabel to existing tag list only if it is non-empty
+	if len(clusterVolumeLabel) != 0 {
+		volumeRequest.VPCVolume.Tags = append(volumeRequest.VPCVolume.Tags, clusterVolumeLabel)
+	}
+
 	return resourceGroup, iops, nil
 }
diff --git a/vendor/github.com/IBM/ibmcloud-volume-vpc/block/provider/util.go b/vendor/github.com/IBM/ibmcloud-volume-vpc/block/provider/util.go
index aa9d99de..c12555f1 100644
--- a/vendor/github.com/IBM/ibmcloud-volume-vpc/block/provider/util.go
+++ b/vendor/github.com/IBM/ibmcloud-volume-vpc/block/provider/util.go
@@ -270,6 +270,7 @@ func FromProviderToLibVolume(vpcVolume *models.Volume, logger *zap.Logger) (libV
 		libVolume.Az = vpcVolume.Zone.Name
 	}
 	libVolume.CRN = vpcVolume.CRN
+	libVolume.Tags = vpcVolume.UserTags
 	return
 }
 
diff --git a/vendor/github.com/IBM/ibmcloud-volume-vpc/common/vpcclient/models/volume.go b/vendor/github.com/IBM/ibmcloud-volume-vpc/common/vpcclient/models/volume.go
index 2d404478..fcd24239 100644
--- a/vendor/github.com/IBM/ibmcloud-volume-vpc/common/vpcclient/models/volume.go
+++ b/vendor/github.com/IBM/ibmcloud-volume-vpc/common/vpcclient/models/volume.go
@@ -40,7 +40,8 @@ type Volume struct {
 	Iops                int64                `json:"iops,omitempty"`
 	VolumeEncryptionKey *VolumeEncryptionKey `json:"encryption_key,omitempty"`
 	ResourceGroup       *ResourceGroup       `json:"resource_group,omitempty"`
-	Tags                []string             `json:"tags,omitempty"`
+	Tags                []string             `json:"tags,omitempty"` //We need to validate and remove this if not required.
+	UserTags            []string             `json:"user_tags,omitempty"`
 	Profile             *Profile             `json:"profile,omitempty"`
 	Snapshot            *Snapshot            `json:"snapshot,omitempty"`
 	CreatedAt           *time.Time           `json:"created_at,omitempty"`
diff --git a/vendor/modules.txt b/vendor/modules.txt
index 7ab9a2f4..8061b0ed 100644
--- a/vendor/modules.txt
+++ b/vendor/modules.txt
@@ -5,7 +5,7 @@ github.com/BurntSushi/toml/internal
 github.com/IBM-Cloud/ibm-cloud-cli-sdk/common/rest
 # github.com/IBM/go-sdk-core/v5 v5.9.1
 github.com/IBM/go-sdk-core/v5/core
-# github.com/IBM/ibm-csi-common v1.0.1-beta5
+# github.com/IBM/ibm-csi-common v1.0.1-beta7
 ## explicit
 github.com/IBM/ibm-csi-common/pkg/ibmcloudprovider
 github.com/IBM/ibm-csi-common/pkg/messages
@@ -14,7 +14,7 @@ github.com/IBM/ibm-csi-common/pkg/metrics
 github.com/IBM/ibm-csi-common/pkg/mountmanager
 github.com/IBM/ibm-csi-common/pkg/utils
 github.com/IBM/ibm-csi-common/pkg/watcher
-# github.com/IBM/ibmcloud-volume-interface v1.0.1-beta4
+# github.com/IBM/ibmcloud-volume-interface v1.0.1-beta5
 ## explicit
 github.com/IBM/ibmcloud-volume-interface/config
 github.com/IBM/ibmcloud-volume-interface/lib/metrics
@@ -25,7 +25,7 @@ github.com/IBM/ibmcloud-volume-interface/lib/utils/reasoncode
 github.com/IBM/ibmcloud-volume-interface/provider/auth
 github.com/IBM/ibmcloud-volume-interface/provider/iam
 github.com/IBM/ibmcloud-volume-interface/provider/local
-# github.com/IBM/ibmcloud-volume-vpc v1.0.1-beta5
+# github.com/IBM/ibmcloud-volume-vpc v1.0.1-beta7
 ## explicit
 github.com/IBM/ibmcloud-volume-vpc/block/provider
 github.com/IBM/ibmcloud-volume-vpc/block/utils