The fish-seed production industry in India has recorded remarkable growth over the last three decades. The hypophysation technique was successfully introduced into India in 1957 and steady progress towards the refinement of the technique has been registered, which has revolutionized carp seed production in the Indian subcontinent. Advancement of carp maturity through brood stock management and multiple breeding has enabled spawn production well ahead of the monsoon and even beyond, ensuring seed availability throughout the year. The quality of seed is an important consideration for commercial aquaculturists. So, partial stock replenishment in carp hatcheries is practised to overcome the problem of inbreeding, which otherwise leads to poor growth of carps. Similarly, gametes of improved stock are cryopreserved and utilized for quality seed production as well as upgrading the brood stock of carps. The gamete cryopreservation protocol for carps is the focus of this review. An attempt has also been made to incorporate information on carp brood stock management, inducing agents, and seed production, including hatchery management.