The reduction of rural poverty continues to be a paramount goal of the developing countries like India as the majority of the poor population still resides in the countryside. The World Bank, for example, estimates that more than 70 % of the world’s poor live in rural areas. So far, various strategies have been pursued to address this concern and among the major ones is rural employment creation. Being a rural agro-based labour intensive industry this sector can also play vibrant role in checking migration from rural to urban areas. In this article, the present status of the sericulture industry in India, its trends, position in global sericulture and science and technological achievements have been reviewed. This article would be helpful in recognizing the potential, strength and challenges of the sericulture industry in India so as to formulate certain policies and measures for socio-economic development.