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Dimensionality plays a critical role in determining the properties of matter. The nanostructure of a material is the key factor in the development of novel properties and in controlling the structure at the nano-level. Nanotechnology is therefore a highly promising field of the twenty-first century, which is expected to totally restructure the technological applications in the fields of semiconductors, inorganic as well as organic materials, energy storage, and biotechnology. The term “nanotechnology” can be defined as the controlled manipulation of materials with at least one dimension less than 100 nm. This technology attempts to integrate chemistry, physics, materials science, and biology to create new material properties that can be exploited to develop facile processes for the production of electronic devices, biomedical products, high performance materials and consumer articles. The commercialization of nanotechnology is expected to boost wide technological development, improved quality of life and societal benefits around the world.