The paper provides an overview of the research conducted on various aspects of Information Literacy. Many studies have been conducted in India and abroad on different facets of Information Literacy and pinpointed that information literacy is an essential skill in the era of information explosion. This paper provides an outline of the research done on Information literacy all over the world. By analysing 104 studies on information literacy, the present study indicates that Information Literacy is an essential skill in the current society. The importance of libraries in imparting information literacy is also mentioned in many studies. The literacy training has to be started at the school level, and it should be included in the curricula. The review shows that the only solution to reduce the digital divide gap among the information-rich and information-poor citizens is information literacy. Many initiatives have been started in India to bridge this gap. Many organisations and Associations like UNESCO, IFLA, American Library Associations, Society of Colleges, National and University Libraries (SCONUL) have framed different standards and Information Literacy models for various types of information users.