Farmed rohu, Labeo rohita, is an economically important freshwater aquaculture species in south Asia. Consumer preference for this species has driven researchers to develop genetically improved rohu (Jayanti) for important traits such as growth and disease resistance. The feeding and breeding biology of rohu is well‐studied, but the physiological responses to stress or climate change at the molecular level are less understood. We summarized the genetic and advanced molecular tools used for biological insights into farmed rohu. Recently, next‐generation sequencing technology (NGS) and genome informatics have helped to identify biological questions in fish using genome, transcriptome, metagenome, proteome and epigenome sequencing. We briefly reviewed past rohu research using traditional selective breeding methods for genetic improvement, as well as the other molecular tools that have been utilized to understand the fish’s physiology, health, nutrition, stress and reproduction. We discuss the molecular techniques used in rohu, such as gene cloning and expression profiling, DNA markers, NGS, metagenomics, epigenomics, proteomics, cell culture/cell line development and transgenics. Finally, we address the future perspectives of rohu research, which may be driven by NGS and other advanced techniques like genome editing to improve rohu aquaculture production. The comprehensive information presented here will provide insights for the carp aquaculture research community.