Rapid industrialization, with economic prosperity set as the prime goal, has always created some secondary intolerable problems such as heavy metal contamination, wastewater that need remediation. Industrial wastewater is the major contributors to contamination of aquatic and terrestrial ecosystems with toxic heavy metals like arsenic, copper, chromium, cadmium, nickel, zinc, lead, and mercury whose hazardous bio-accumulative nature in biotic systems is attributed to their high solubility in the aquatic environments. There has, therefore, always been a need for the removal and/or recovery of these toxic, non-biodegradable, and persistent heavy metals from the industrial wastewater. For several decades, extensive investigations have been performed for easy, efficient, and economic removal of heavy metals with a varying degree of success. Chemical precipitation, adsorption, ion floatation, ion-exchange, coagulation/flocculation and electrochemical methods have been the most readily available conventional methods for the removal of these heavy metals. These methods however have posed some serious shortcomings such as high sludge production needing further treatment, low removal efficiency and high energy requirements. In the present years, newer more efficient, more economic and innovative technologies are being investigated. Recently photocatalysis, electrodialysis, hydrogels, membrane separation technique and introducing newer adsorbents have been developed for better adsorption. Hence in this paper, we have reviewed efforts and technological advances achieved so far in the pursuit of more efficient removal and recovery of heavy metals from industrial wastewaters and have evaluated their efficiency dependence on various parameters such as pH, temperature & initial dosing.