Modern biotechnology enables an organism to produce a totally new product which the organism does not or cannot produce normally through the incorporation of the technology of ‘Genetic engineering’. Biotechnology shows its technical merits and new development prospects in breeding of new plants varieties with high and stable yield, good quality, as well as stress tolerance and resistance. Some of the most prevailing problems faced in agricultural ecosystems could be solved with the introduction of transgenic crops incorporated with traits for insect pest resistance, herbicide tolerance and resistance to viral diseases. Plant biotechnology has gained importance in the recent past for increasing the quality and quantity of agricultural, horticultural, ornamental plants, and in manipulating the plants for improved agronomic performance. Recent developments in the genome sequencing will have far reaching implications for future agriculture. From this study, we can know that the developing world adopts these fast-changing technologies soon and harness their unprecedented potential for the future benefit of human being.