Rice is known as the grain of life, and is synonymous with food for Asians. Rice (Oryza sativa L.), a semi-aquatic annual grass native to tropical Asia, is the world’s single most important food crop and a primary source of food for more than a third of world’s population. It is an integral part, inter-twined with the socio-religious customs, food habits as well as the economy of the country. More than 90% of the world’s rice is grown and consumed in Asia, where 60% of the calories are consumed by 3 billion Asians. The present review article focuses on the application of various molecular approaches especially molecular markers in the assessment of genetic divergence in rice for further crop improvement programmes.