Nanotechnology research and applications are still at a nascent stage in India and are largely confined to scientific laboratories, but they have immense potential for development. The overall nanotechnology market can be broadly categorised into three different areas comprising nanomaterials, nanotools and nanodevices. For a developing economy such as India, the application of nanotechnology in the fields of agriculture, environmental and healthcare services can prove to be a major catalyst for growth. Other benefits of nanotechnology include reduction of wastage by promoting efficiency in processing and storage, and also combating losses caused by pests and diseases. At the same time, the industry faces a number of challenges such as the lack of skilled labour and the high expenses associated with procurement of nanomaterials. What is required is more investment and encouragement for nanotechnological applications from both the government as well as the private sector for this industry to thrive in India. Hide this