Chlorophytum borivilianum is an important medicinal plant known as ‘Safed musli’, used in many Ayurvedic vital tonics and aphrodisiac formulations. The species was first described from India in 1954 and reached rare status in nature due to overexploitation. Owing to its increased demand, the species has attracted the attention of farmers as well as researchers in several institutions. The present paper deals with various research aspects such as conservation biology, cytology, chemistry, plant genetic resources, micropropagation, crop management, etc. conducted on the crop for the last two decades in India. The species is diploid 2n=4x=28 and is mainly vegetatively propagated. Seeds remain dormant for nearly 10 months and also suffer from poor germination. Fleshy roots of the species contain saponins having therapeutic value. Germplasm collections made from different states in India show the occurrence of wide genetic variability in terms of plant type, maturity period, growth and yield characters, and size and shape of fleshy roots. Although the species is cross-pollinated in nature, self-pollination is also feasible artificially. One high-yielding cultivar and two high-yielding morphotypes have been recently identified. A micropropagation protocol using different explants has been standardized and agrotechnology for cultivation developed. Successful use of synthetic seed has also been reported. The article presents a comprehensive overview of the current state of research in the species with due emphasis on future thrust and possibilities.