Synopsis Medicinal plants are nature's hidden and to a large extent unexplored treasure. Although they have been used as a source of safe and effective medicine since time immemorial, this potential resource has hardly been commercially tapped. India is endowed with about 8000 species of medicinal plants. According to a recent estimate to the Planning Commission, Government of India, the potential for plant-based crude drugs is about Rs. 4000 billion. Globally, the demand for medicinal plants and their derivatives is growing at a rate of 7-15%. Thus, considering the current market size and future growth prospects, there is a huge requirement for cultivation of medicinal plants in India. Medicinal plant biodiversity, conservation And Commercial Exploitation Offers Promising Avenues of self-employment and business opportunities particularly in the rural areas, preventing mass exodus of manpower to cities. Advances in Medicinal Plants is the outcome of a national seminar held to address challenging opportunities in the field. The papers presented were on a wide range of topics, including strategies for conserving medicinal plant biodiversity, GIS mapping of medicinal plant diversity and cultivation of important medicinal crops.