Man has been using medicinal plants to alleviate diseases and discomfort from the very dawn of evolution of human beings. People living in different parts from time immemorial, had selected their food and medicine by a process of trial and error or even by experimentation from the biological resources, particularly from the plants, found around them and this became known as the ethnic food/ traditional food and ethnic medicine/ traditional medicine. India has one of the oldest, richest and most diverse cultural traditions, associated with the use of medicinal plants. The country has a great heritage of medicinal plant use, dating back to the early Vedic period. Like in many other indigenous cultures or civilizations across the world, the Indian indigenous communities have possessed/accumulated vast knowledge on multifarious uses of plants and other natural resources found around them. Living close to nature and by trial, error, empirical reasoning and experimentation, the primitive indigenous societies have developed their own unique wealth of knowledge pertaining to conservation and sustainable use of plants, animals and other natural resources. During the 1980s, Ministry of Environment and Forests and Climate Change (MoEF&CC), Govt. of India launched an All India Coordinated Research Project on Ethnobiology (AICRPE). JNTBGRI has developed a benefit sharing model through AICRPE with Kani tribe on the plant Trichopus zeylanicus Gaertn. ssp. travancoricus (Bedd Burkill ex Narayanan). This model is perhaps a unique experiment ever done, wherein the benefits accrued from the development of a product based on an ethnobotanical lead were shared with the holders of that traditional knowledge. Considering the significant outcome of this model in community empowerment, income generation and poverty eradication of a tribal community, Pushpangadan was awarded with the UN-Equator Initiative Prize (under individual category) at the World Summit on Sustainable Development held in Johannesburg in August 2002. Now with the CBD and WIPO guidelines and our national legislation on biodiversity in position, the JNTBGRI or Kani case study could be taken as an ideal model of equitable benefit sharing involving genetic resources and associated traditional knowledge.