Industrial activities are paramount to sustaining the economy in a rapidly developing nation and global powerhouse like India. Leather industries are important in the country's economic map due to the high revenue and employment generation opportunities. Several of these industries contribute largely to environmental pollution. The pollution of the environment is mainly caused by improper disposal of the tannery effluents that are highly rich in hexavalent chromium, a potent human carcinogen. Hexavalent chromium imparts toxic effects on the biotic components, which include plants, animals, and humans. The review portrays the current status of the Indian leather tanning sector and its impact on the Indian economy. The process of chromium tanning and its adverse effects on the environmental biotic components have been briefly discussed. Phytoremediation of these effluents using suitable hyperaccumulating plants has been suggested as an eco-friendly and cost-effective approach for the sustainable restoration of the polluted environment. The mechanism behind the remediation approach and the factors influencing it have been detailed. The manuscript briefly discusses some important advancements in the field of phytoremediation and emerging technologies and concludes by emphasizing further research for sustainable management of tannery wastes.