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Traditional Knowledge is not something new or innovative but the distillation of practices or knowledge in the society. India has experienced various initiatives regarding the protection of traditional knowledge under intellectual property rights, including the Traditional Knowledge Digital Library, which is a major step to curb biopiracy and in many of these cases the country had to fight for revocation of the granted patents which involved huge costs and time. India has taken misappropriations of its traditional knowledge by developed countries through patenting system. This paper discusses various aspects of Traditional Knowledge Digital Library of India including its role in the preservation of Traditional Knowledge, protection and dissemination of traditional knowledge, Traditional Knowledge Database and present Status, benefits of TKDL, Examples of Bio-piracy of Indian Traditional Knowledge and major achievements of TKDL in preserving traditional knowledge.