Genetic engineering, if properly applied, is a powerful technology for sustainable development of agriculture, fishery and forestry to meet increasing food demand of the expanding population. It covers crop improvement to increase yield, to improve resistance to abiotic stresses such as drought and cold and biotic stresses like pests, diseases and to enhance the nutritional content of foods. After rapid commercialization of GM crops, several biosafety concerns viz., risk to human health, risk to environment, ecological concern has been raised. After recognition of need of biosafety to produce GM products, Cartagena protocol was adopted by GM producing countries, which was ratified according to safety consideration of their own country. In India MoEF is the nodal ministry for implementation of protocol under which several authorities work to monitor and take initiative under obligation of the protocol. Also several steps of risk assessment and management as well as different biosafety levels are discussed in this chapter.