Costus igneus, commonly known as the spiral flag, is a member of the Costaceae family and is primarily cultivated as an ornamental plant in India, it has gained recognition as the "insulin plant" as its ability to stimulate insulin production with overcoming demand for herbal remedies to address diabetes mellitus and the side effects associated with oral hypoglycemic agents, there is growing interest in exploring plant-based solutions. This review article explores the phytochemical properties of Costus igneus, its potential as an antidiabetic agent, its antibacterial activities, etc. Additionally, cytotoxic assays are discussed as part of the preliminary investigation into the plant's medicinal properties. The whole part of the plant is isolated with petroleum ether, chloroform, ethanol, water and the crude extracts have been tested for various pharmacological activities.