The start of commercial exploitation of soybean in India is nearly four decades old. In this period, the crop has shown unparallel growth in area and production. Soybean has established itself as a major rainy season crop in the rainfed agro-ecosystem of central and peninsular India. Introduction of soybean has resulted in an enhancement in the cropping intensity and resultant increase in the profitability per unit land area. In India, soybean will continue to remain a major rainfed oilseed crop. A number of varieties that have been bred have resulted in this unprecedented growth. The simulation studies and on-farm demonstrations indicate that with current varieties, the rainfed potential of soybean in India is about 2.1 t/ha against the national average productivity of just 1.2 t/ha. Hence, large yield gaps exist between the potential and the actual yields harvested by the farmers. Narrowing of this yield gap may lead to doubling of soybean production. National Agricultural Research System has so far been successful in meeting the research demands of agrarian and industrial community. Further improvements in the yield of soybean grain and quality of soybean oil are possible by use of new research methodologies and by exploitation of recent advances in biology.