Industrial hemp, as a diverse plant, can be a revolutionary crop for a better future and for upcoming generations. It is an eco-friendly and worthwhile crop that complements sustainable growth system. Industrial Hemp farming has the potential to dramatically minimize the amount of carbon impact on the environment and can be cultivated with little or no usage of chemical pesticides or fertilizers. The advent of the Covid-19 pandemic crisis has significantly raised health awareness among the people fueling the growth of the hemp market at a great pace. The stalks, seeds, and leaves are converted into various construction materials, textiles, paper, food, furniture, cosmetics, healthcare products, and the list goes on. Bioplastics, Biofuels, and Biopesticides are some of the innovative applications of the plant which are subjects of research and debate at present times. It is a treasure not only for the industrial sector but also a dignified plant for sustainable farming systems. The benefits of industrial hemp cultivation will uplift the socio-economic level of the farmers globally and can even add to increasing the GDP per capita of the nations to a great extent .The future of the plant strongly depends on the market demand for its bio-based products that will help the plant to establish itself as a worthy sustainable crop.