The carbon nanotubes form a promising tool in the emerging fields of nanotechnology and its reassuring development. The importance lies in the fact that the whole development has been from carbon which forms the basic unit. The future lies in continuous improvement in the required properties of materials by artificially structuring them on nanometer scale and developing processing methods for their manufacture. Thus this topic presents a smooth and effective blending of electronics and chemistry. The day is not far when we could make supercomputers no larger than a human cell or a spacecraft no more expensive than a family car.The drive towards miniaturization and sophistication of electrical devices has been progressing at a relentless pace. Silicon-based microelectronic devices have played an integral role in steering this revolution during the latter part of the last century. Gordon Moore?s observation in 1965 of doubled computing capacity in every new silicon chip produced within 18-24 months of the previous one is testimony to the ascendancy of silicon devices in the microelectronics race. Nanotechnology relates to the creation of devices, structures and systems whose size ranges from 1 to 100 nanometers (nm). These creations also exhibit novel physical, chemical or biological properties because of their nano scale size. To place their size in context, 1 nm is 10,000 times smaller than the thickness of one strand of human hair..