The ultimatum for nutritious food is increasing among people as they have become more aware of the association between nutrition and health. Black rice (Oryza sativa L. indica) is considered as a dense nutrient food and has gained attention in the recent times attributable to its health provision. It is rich in proteins, iron and fibers. It is also rich in several antioxidants, such as anthocyanins, flavonoids, and carotenoids, which may help protect against heart disease, obesity, and certain forms of cancer due to its anti-inflammatory properties and anticancer effects. Furthermore, to its enriching benefits, black rice is naturally gluten-free and may aid in weight loss. Large varieties of value-added products such as bakery (muffins, cookies, cakes, bread), extruded products (breakfast cereals, noodles, pasta) and fermented products (wine, beer, yogurt) can be developed from black rice by utilizing its unique properties. It can also be utilized for non-food applications such as nutraceutical and cosmetics. Thus, black rice has the potential to provide health benefits and also in providing opportunities for the development of new value-added products.