This review describes the diversity of Indian fermented food and its significance as a potential source of lactic acid bacteria (LAB). Fermented foods consumed in India are categorized based upon their base material. Fermented foods such as dahi, gundruk, sinki, iniziangsang, iromba, fermented rai, kanjika and handua were reported to have significant medicinal properties. Some fermented products such as koozh, dahi and kanjika are consumed unknowingly as, probiotic drinks, by local people. There are very few reports regarding isolation of LAB from Indian fermented foods available in the past; however, due to growing consciousness about potential health benefits of LAB, we now have scores of reports in this field. There is an abundant opportunity available for food microbiologists to explore the Indian fermented foods for the isolation of new LAB strains for their potential role in probiotic research.