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Flexible AC Transmission Systems (FACTS) devices have been used in power systems since the 1970s for the improvement of its dynamic performance. This paper presents a review on the research and developments in the voltage stability improvement by using FACTS controllers. In this paper several technical issues related to FACTS installations have been highlighted and performance comparison of different FACTS controllers have been discussed. In addition, real-world installations and semiconductor technology development have been reviewed and summarized. This paper also includes the main causes of voltage instability and power scenario in India. In order to deal with the voltage stability problem, the solutions with FACTS-controllers provide voltage support and/or appropriately co-ordinated control actions. Authors strongly believe that this survey article will be very much useful to the researchers for finding out the relevant references in the field of voltage stability improvement by using FACTS controllers in power system environments.