Abstract: This paper reviews the status and prospects of the “Tasar Silk Industry” in the state of Jharkhand. Tasar Sericulture is practiced in the states of Jharkhand, Orissa, West Bengal, Madhya Pradesh, Chhattisgarh, Andhra Pradesh, Uttar Pradesh, Maharashtra, Telangana and Bihar with Jharkhand being the leading producer with 80% of the tasar silk production employing around 1.5 lakh farmers in rearing, reeling and weaving activities, This is an agro-based, cottage industry practiced as “a way of life” by the various tribal inhabitants of this state like Santhals, Hos, Uraons, Kerwars and others. Tasar silk is not only known for its charm, texture and its natural golden color, but it also has a high ethical value. It is known as “Ahimsa Silk” as it does not kill the silkworm by boiling the cocoons while it is still inside it. The fibre is extracted only after the silkworm (Antherea Mylitta and Antherea Proyeli J) has left the cocoons. Tasar sericulture is being promoted widely through premier bodies like The Central Silk Board and its subsidiary i.e Central Tasar Research and Training Institute; Ranchi, which has undertaken research and development and training programs, since its establishment in 1964, thereby improving the silk production as well as empowering the lives of weak and marginalized tribes of Jharkhand. Growing demands from foreign countries, elucidate the promising future of the tasar silk industry in Jharkhand which in turn would uplift the living qualities of the rural people. Heavy investment in this industry now, would bring good returns in future, not just in terms of an improved economy, but also an improved society. This paper highlights the fact that apart from the huge potential to earn foreign exchange for the country, tasar culture has immense ethical values and truly carves for us a path towards sustainable development. Keywords: Tasar, sericulture, Jharkhand, tribal, Ahimsa Silk, Sustainable Development.