The Gucchi mushroom, Morchella esculenta, commonly known as the morel, is an expensive food item that grows wild and is collected manually. In India; it is the costliest vegetable in the world, costing between 20,000 INR and 30, 000 INR per kilogramme. Its nutritive and medicinal values are acknowledged. It is primarily found in India in the districts of Jammu and Kashmir (J&K) and Kullu in Himachal Pradesh (HP). The farming community traditionally collects the mushroom from forested areas through a well-managed community approach. Elders of families and communities have taught them how to identify the mushroom, recognize distribution patterns, and collect it. The knowledge and ability to differentiate M. esculenta from other poisonous wild mushrooms has also been inherited from the elders and community members. It contains a wide range of pharmacological properties. Traditionally, the mushrooms are most commonly dried in the sun or the kitchen. Its medicinal uses are, however, restricted to only the hills and far-flung areas. This research summarizes the introduction, function, and scope of artificial production of the Gucchi Mushroom. In the future, the Gucchi mushroom will transform the Indian mushroom business, assisting farmers in their economic development.