Industrial biotechnology plays an essential role in the production of value added chemicals. When these chemicals are synthesized using renewable raw materials, these are “Green chemicals”. One of the value added chemical which is in the limelight is the by-product of biodiesel production, glycerol. The conversion of glycerol into high value added chemicals like glycerol carbonates, glycerol esters, etc. These basic chemicals act as building blocks for the synthesis of other chemicals.