Ornamental flowering plants, exemplified by Canna indica L., have garnered global acclaim not solely for their visual allure but also as reservoirs of nutrients and bioactive compounds with diverse pharmacological effects. This chapter articulates a strategy for preserving and augmenting genetic diversity within C. indica populations. The aim is to thwart genetic stagnation, fortify variety resistance, and contribute to the creation of visually captivating and commercially viable C. indica varieties boasting enhanced bioactive properties. The chapter provides a succinct overview of the significance and applications of C. indica in the horticulture and floriculture industries. It accentuates the active components present in C. indica, encompassing flavonoids, terpenoids, phenylpropanoids, alkaloids, organic acids, and others. Delving into the multifaceted effects of C. indica, including antioxidant, anti-inflammatory, anticancer, antiviral, and hypoglycemic properties, the text explores the broad spectrum of its pharmacological contributions. In the context of flowering plants' rich nutritional and bioactive diversity, pivotal roles have emerged in research pertaining to functional foods, dietary supplements, cosmetics, and pharmaceuticals. C. indica, with its diverse compounds, assumes a critical position in pharmaceutical, food, and various other industries. The chapter delivers a thorough examination of Canna species propagation, placing particular emphasis on C. indica. Furthermore, it elucidates genetic and molecular progressions in the breeding of C. indica, underscoring continuous endeavors aimed at refining and augmenting the potential of this invaluable plant species.