Amorphous alloys were first developed over 40 years ago & found applications as magnetic core or reinforcement added to their materials. The scope of applications is limited due to small thickness in the region of only tens of microns. The research effort in the past 2 decades, mainly pioneered by a Japanese & a US-group of scientists, has substantially relaxed this size constraint. Some bulk metallic glasses can have tensile strength up to 3000 MPa with good corrosion resistance, reasonable toughness, low internal friction & good processability. Bulk metallic glasses are now being used in consumer electronic industries, sporting goods industries,etc. This paper reviews recent developments of new alloy systems of bulk metallic glasses. The properties & processing technologies relevant to industrial applications are also discussed.