Traditionally Non-Timber Forest Products (NTFP) provide a significant opportunity for socially and economically weaker sections of society particularly tribal, landless farmers, women and other rural poor for cash and non-cash income for livelihoods. Forests provide various NTFPs which are used for food, fodder, medicines, firewood, mushroom, honey, bamboo and many more. There are more than 200 different types of NTFP available in tropical and temperate forests, which have commercial value and require multiple strategies to manage sustainably in wild areas. From the perspective of management, there are two categories of NTFPs: (a) products of commercial value and (b) products of subsistence value, which never reach to market. This makes it difficult to estimate the real value of NTFPs, which are under provisional ecosystem services. If collection, processing and value addition activities are sufficiently strengthened with modest investment from the state and central governments, tribal and poor forest living communities will quickly become prosperous in their own habitat. Management of NTFPs covers a range of activities starting from adopting appropriate silvicultural practices to caring regeneration and practicing healthy collection methods. A large number of NTFPs have medicinal properties and are collected by herbal industries in large quantity through the local communities. In many cases premature and over harvesting has made the collection unsustainable for several products from natural forests. This chapter discusses different issues of NTFP management including the causes of unsustainable harvesting, informal market system, fast depleting resource base, unaccounted inventory and weak institutional structure for collection and marketing of products in remote forest areas. Many recent initiatives by state forest departments and central organizations, Tribal Cooperative Marketing Development Federation (TRIFED) to boost the sector through various supporting services like introduction of Minimum Support Price (MSP), inclusion of NTFP management in forest working plan code as well as conservation practices for rare and threatened species. Many studies indicate the emerging impact of climate change, fire and other vulnerabilities in many NTFP growing areas resulting in low yield. There are huge gaps perceived in awareness, communication and capacity building of people who are stakeholders in this sector. In the past few decades many landmark policy interventions emerged in India, which have direct and indirect link with NTFP management but their impact is yet to be seen. Proper community-based enterprise development linked with sustainable income sources for the tribal and other local communities is still a dream in NTFP collection.