Genetic variability and correlation studies in twenty gladiolus genotypes for vegetative, floral, corm and cormel characters was conducted. The estimated phenotypic coefficient of variation (PCV) was higher than the genotypic coefficient of variation (GCV) for twenty four characters studied. The traits like rachis length, number of spikes per plant, weight of spike, number of florets per spike, number of corms per plant, number of cormels per plant, weight of corm, yield of corms kg per hectare and yield of corms tons per hectare exhibited high heritability (>75%) coupled with high genetic advance as per cent mean (>30%) which indicated the prevalence of additive gene action in expression of these traits and there by further improvement of these traits could be made by selection. A study on the association of various morphological traits through correlation analysis in gladiolus showed that number of spike per plant had significant and positive correlation with plant height, number of leaves, leaf length, leaf width, leaf area, spike length, rachis length, number of florets per spike, vase life, number of corms, weight of corms and diameter of corm. Spike length exhibited significant and positive correlation with plant height, number of leaves, leaf width, leaf area, rachis length, number of florets per spike, diameter of the floret, weight of the spike, length of the floret, vase life, number of corms, number of cormels, weight of corm, diameter of corm. The results of investigation revealed that number of spike per plant spike length and number of florets per spike are important yield and quality characters. Hence, these characters may be considered as selection indices in breeding programme.