Variation in tree biomass and carbon (C) stocks in tropical dry forests is important at both regional and global scale to know their contribution in global C cycle. In Indian tropical forests, the information on variation in tree biomass and C stocks at forest type level is scarce and fragmented. In the present study, three tropical dry deciduous forest types: dry deciduous teak forest (DDTF), dry deciduous mixed forest (DDMF) and Boswellia forest (BF) have been selected in Madhya Pradesh, Central India, to assess the biomass and C stocks. The total tree biomass (aboveground + belowground) ranged from 70.4 (DDTF) to 296.6 (BF) Mg/ha with a mean of 184.1 Mg/ha, whereas the tree C ranged from 35.3 (DDTF) to 140.9 (BF) Mg C/ha with a mean value of 87.4 Mg C/ha. The greatest biomass (220.4 Mg/ha) and C stocks (104.7 Mg C/ha) have been observed in BF type, whereas the least biomass (160.9 Mg/ha) and C (76.4 Mg C/ha) have been observed in DDTF type, with the mean biomass and C stock values of 184.1 Mg/ha and 87.4 Mg C/ha, respectively. In both DDTF and DDMF types, Tectona grandis contributed 76.5 and 26.4% of C, whereas in BF type, Boswellia serrata contributed 73.6% of C to the total C stock. A significant positive (R2 = 0.951; p < 0.01) relationship has been observed between basal area and tree C stock. The present study would improve our understanding of C stocks present in these forest types and could be used to enhance the C sequestration potential through conservation, monitoring and management of such forests.