Biotechnology is a range of enabling technologies that will find significant applications of biotechnology in search of new applications and the main benefits lie under future. The applications of biotechnology are so bored that virtually every industry is using this technology. Developments are underway in areas as diverse as pharmaceuticals, diagnostic, textile, aquaculture, forestry, chemicals, household products, environmental cleanup, food processing and forensics to name a few. Biotechnology holds significant promises to the future but must be carefully regulated so that the maximum benefits are received with least risk.