In the present scenario, a fascinating product explored from forest bio-materials named as“Nanocellulose” has attracted a worldwide attention of scientists as an impending substitute for the petroleum based products. The hierarchical microstructure possessed by cellulose molecules allows the extraction of cellulosic nanomaterials, cellulose molecules with at least one dimension in nanometer range, which are basically termed as “Nanocellulose”. Nanocellulose has been widely categorized as cellulose nanocrystals (CNCs), which possess rod or sphere like crystal structure, and the more flexible and longer cellulose nanofibres (CNFs). Its extraction either in the form of CNCs or CNFs has generated a momentous interest due to its extraordinary properties at nanoscale dimensions such as a very high surface-to-volume ratio, high aspect ratio, low axial thermal coefficient (10-7 K-1) along with superior optical and mechanical properties. Due to the ultrahigh optical transparency of nanocellulose paper, the fabrication of highly transparent conductive networks of silver nanowires and carbon nanotubes on cellulose nanofiber paper, offering new possibilities for future paper electronics has been reported. Nanocellulose composites are being reported to be used as a substrate for solar cells. Moreover, nanocellulose has a vast array of potential commercial applications including nanocomposites and foams for automotive, aerospace, building construction, high performance fillers for paper, packaging, paints, plastics, cement and in bio-medical applications.