The practicing of sustainable agricultural needs the use of agriculturally important microorganisms due to their wide arrays of functions. Recent developments in the formulation and application of microbial consortia provide promising advances and raises a hope for better crop production. The use of microbial consortia, actually a community of microorganisms working in synergic way, illustrate various benefits in terms of improving plant growth, soil health, and control of plant disease. This article gives an overview of microbial consortia, strategies for developing effective microbial consortium-based formulation, and highlights their advantages over traditional agrochemicals.