Humans have been doing genetic engineering, a technology which is transforming our world, for thousands of years on a wide range of plants, animals and micro organism and have applications in the field of medicine, research, industry and agriculture. The rapid developments in the field of genetic engineering have given a new impetus to biotechnology. This introduces the possibility of tailoring organisms in order to optimize the production of established or novel metabolites of commercial importance and of transferring genetic material from one organism to another. In order to achieve potential benefits of genetic engineering the only need is to develop perfect tools and techniques. Once it has been perfected then all of the problems associated with food production can be solved, the world environment can be restored, and human health and lifestyle will improve beyond imagination. No doubt that there are almost no limits to what can be achieved through responsible genetic engineering. Classical field of genetic engineering and some of its advancements are discussed in this review.