The Non- Timber Forest Products (NTFPs) provide livelihood to millions of forest dwelling communities. Soligas, the indigenous community in Western Ghats earn 30-40% of their cash income from NTFPs. In recent years, enterprise based conservation has been encouraged among theSoliga community to bring livelihood security under the Forest Right Act. This in turn would increase community stake in the conservation. The additional income generated by the community is expected to be an incentive to conserve and monitor the resources. The institutional arrangements, norms and collective social practices in NTFP collection, value addition and lessons learned from enterprise-based initiatives are discussed in this paper. Three decentralized processing units have been established with community participation, adding value to honey and nelli besides other forest products. Participatory resource monitoring of NTFP species and activities related to assessment of resource production, extraction, regeneration and adaptive management have been carried out.. Establishment of decentralized processing unitshas enabled the communities to value add as well as diversify the NTFP products leading to enhanced income. Enterprise linked conservation involves the community in conservation and monitoring. Enhancing incomes from the sustainable harvest of NTFPs can help sustain local livelihoods and provide economic incentives to conservation.