Palmyra palm (Borassus flabellifer L.) is a species under the arecaceae family. It is also known as toddy palm, Asian palm, wine palm, lontar palm, and longer palm. It is a tree with numerous applications, including food, drinks (alcoholic and non-alcoholic), fibre, medicine, and timber. Immature fruit are tender as the endosperm is soft, sweet and gelatinous. The tender endosperm of palm is not only good source of carbohydrate, protein, ash, crude fiber and calories but also possess many pharmacological activities like anti-inflammatory, ant arthritic, cytotoxic, antibacterial, analgesic, hypoglycemic, antipyretic and antioxidant activity. Different types of products prepared from palmyra pulp such as Neera , Nungu, Jaggery, Toddy, Palmyra Vinegar, Wine, Cola, Spread, Yoghurt, Sugar, Toffee, Jelly, Chocolate & some ready to serve products (RTS) from Palmyra pulp. The tender palmyra fruit has a very short life and a soothing soft taste that turns fibrous as it matures and get ripen. The nutritional potential and phytochemical constituents of tender palmyra fruit have been studied for value added products that may induce significant changes in chemical composition, influencing the concentration and retention of bioactive components in fruits. This study gives a brief knowledge on the economical, medicinal and phytochemical importance of palmyra palm.