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Selection indices were computed on the basis of linear combination of 40 soybean germplasm based on nodulation, yield and quality traits during 2007-08 and 2008-09 under rainfed condition. The range for selection indices was from 6.34 to 19.43, 3.15 to 15.18 and 3.08 to 17.68 during first, second year and in pooled analysis respectively. The result revealed that gene stock TGX1025-2F, BR35, AGS153B, BP1159, BR-15-126-3-13 and TGX802-IIIE exhibited high index value for nodulation, yield and quality traits. EC333939, AGS153B, TGX802-IIIE, TGX 1025-2F, EC 34501 and BP1159 recorded highest per se performance for seed yield per plant. An overall observation of selection criteria (both varietal indices and per se performance basis) TGX 1025F recorded the highest estimate value followed by AGS 153B, TGX802-IIIE, BP1159. Thus, these gene stock is valuable source for new variety released as well as selecting diverse parents for use in hybridization programme.