The increasing needs for food security, nutritional quality, and sustainable agriculture systems under the increasing challenges of climate change, biodiversity loss, and vulnerability of small farmers have actually amplified. Although the Green Revolution introduced a major increase in the production of food grains using high-yielding varieties (HYVs), it also introduced a cost in the form of genetic quality, ecological vulnerability, and replacing farmers? varieties (FVs) or traditional crop varieties. Farmers? varieties, or landraces and traditional crop varieties, are those crop species whose development over the past few centuries lies in farmers? hands and are characterized by unique attributes such as climate resilience, adaptation specificity, superior nutritional quality, and cultural significance. This review highlights the potential of legislatively protected farmers? varieties in the form of the Protection of Plant Varieties and Farmers Rights (PPV&FR) Act of 2001 and the Geographical Index of the GIs of Goods of 1999, exclusively in the Indian scenario. By critically deliberating on the evidence collected from the field, this review also briefs on the importance of FVs or farmers? varieties in enhancing nutritional security, co-production and co-construction of biodiversity, climate resilience, and enriched earning capacities based on premium prices and targeted or special markets. By making a comment on the performance of FVs and HYVs on the sustainability of provisioning, regulating, and cultural services, this review also underlines the future mileage of farmers? varieties in formulating genetic stock for future crop improvement and breeding for climate resilience.