Phyllanthus emblica and P. indofischeri (Phyllanthaceae) are important wild fruits known for their medicinal use and are traded extensively in Southern India. They constitute among the most important traded medicinal plant species and have been part of several ethnomedicines in South and Southeast Asia. While a large proportion of fruits of these species are harvested from the wild populations, in recent years, several varieties and hybrids have been produced and are now cultivated in many parts of the country. Nevertheless, the wild populations of these species continue to be harvested indiscriminately leading to poor regeneration in the wild, which houses large germplasm needed for their improvement programs. In this chapter, the status of these two species, P. emblica and P. indofischeri, is discussed. The detailed description of these species along with their taxonomical status, geographical distribution, and their medicinal importance along with several other studies is reviewed. The chapter also highlights the studies carried out to assess the genetic variability of wild populations of P. emblica in the Western Ghats and the recent progress being made on largescale genetic improvement and the cultivation of these two species. Finally, the chapter discusses the strategies for the conservation and management of wild resources of these important wild fruits in the naturally distributed areas in India.