Present experiment was carried out with selected forty eight slow rusting bread wheat germplasm lines, which were selected based on the AUDPC value representing different zones of India. The major objective was to study the nature and magnitude of genetic variability and diversity available among the lines for utilization in development of superior varieties. Genotypes were evaluated using D2 statistics for the quantitative traits like days to maturity, days to fifty percent flowering, productive tillers per plant, plant height, spike length, spikelets per spike, seeds per spike, thousand grain weight and yield per plant. Based on D2 values, genotypes were grouped into five different non-overlapping clusters. The minimum inter-cluster distance D2 value was observed between clusters I and IV. Genotypes in cluster IV and V exhibited maximum diversity for both slow rusting as well as for high yield which can be used as parental material in hybridization programs to develop high-yielding and rust resistance varieties.