India has been a global leader in livestock resources. The livestock sector plays a vital role in nutrition, livelihood, and job creation. It also contributes significantly to the Indian economy, and the share of livestock has been growing positively. Livestock products, viz., meat and milk, are very good sources of high-quality nutrients essential for the human body. The milk and meat production in the country continues to grow. India is number one in milk production. National Family Health Survey (NFHS) 2019–21 data reveals that 83.4% of men and 70.6% of women in the 15–49 year age group eat meat and meat products. More than half (51.14%) of meat produced in the country is from poultry. The buffalo meat continues to be a major export commodity. The country receives significant revenue through the export of animal products. The export earnings from the meat sector have been almost stagnant over the years. The efforts must be directed towards sustainable livestock production to have a healthier and eco-friendly economy. There is ample scope to explore European markets, but to compete in this market, traceability and residues in the meat and milk value chain must comply with their requirements. The Government of India undertook essential steps for tagging animals to enable traceability. Several schemes have been launched and implemented for augmenting livestock production, employment generation, and entrepreneurship development. The chapter gives an overview of the importance of the livestock sector, its contribution to the economy, and strategies for augmenting meat production sustainably.