For centuries, farmers have planned agricultural production and conserved natural resources by adopting indigenous knowledge. The development of indigenous knowledge systems, including management of natural environment, has been a matter of survival to the people who generated these systems. With the rapid environmental, social, economic and political changes occurring in many areas inhabited by indigenous people, comes the danger that the indigenous knowledge they possess will be overwhelmed and lost forever. Nowadays, agriculture in developing societies have evolved from location-specific knowledge which are gained through close interaction within natural and physical environments and cultural adaptation, which are now recognized to be eco-friendly and sustainable. Up to the 1980s, the farmers were considered laggards. These days however, the increasing attention and scientific research have made it possible to recognize the farmers as innovators, based on their unique practices in the field of sustainable agriculture. In this paper, we primarily attempt to rationalize the significance of indigenous agricultural knowledge in the present-day context. The concept of indigenous people, indigenous knowledge and sustainable development, indigenous agricultural knowledge are reviewed. The significance of indigenous agricultural knowledge and sustainable development are in achieving the much talked about sustainable development goals. Also, the paper gives the five indigenous farming practices for sustainable farming systems. We propose that an integration of indigenous agricultural knowledge with modern scientific knowledge has immense potential towards ensuring sustainable agriculture and sustainable development.