A new generation of industrial induction melting furnaces has been developed during the last 25 years. Present practices followed in Induction Furnaces are discussed in this paper. Through a literature review account of various practices presently being followed in steel industries using Induction Furnaces has been carried out with a view to gather principal of working. This paper is related with the modeling of induction process and its development is discussed. The computational techniques available for the modeling the process and the various methods for optimization is also discussed in this review paper. I. INTRODUCTION A furnace is a device used for heating. The name derives from Latin fornax. The development of Induction Furnaces starts as far back as Michael Faraday, who discovered the principle of electromagnetic induction. However it was not until the late 1870's when De Ferranti, in Europe began experiments on Induction furnaces. Induction furnaces are used in a wide range of production and manufacturing facilities such as foundries and metallurgy plants. Induction furnaces are used primarily because they are fairly clean, can melt materials quickly, and are generally affordable to maintain and operate. They also allow for precise temperature and heat control. Because they gain heat very quickly they do not have to be left running between operations and thus save on energy resources and help manage operating costs. Induction furnaces may be used to melt, braze, solder, treat, or shrink fit any material that is suitable for use with induction heat. Treating materials may include annealing, hardening, or tempering. Induction heat may be used to braze or solder copper, bronze, brass or steel. Shrink fitting may involve fitting parts for precision manufacturing. Melting processes can be done on ant material that is compatible with induction heat. Such metals include steel bronze, copper and brass.