To know about the details regarding the increased popularity of CNMs, it is necessary to study the storyline behind evolutionof CNMs. The story traces back to 1984 when Smalley, Institute for Nanoscale Science and Technologyof Rice University,Houston got a request from Harold Kroto of University of Sussex to use the laser supersonic cluster beam machine in Smalley’s laboratory to investigate a special type of carbon molecule [5]. To this, R. Smalley replied in great enthusiasm, “In retrospect, I seem to have been fascinated by various peculiar aspects of carbon chemistry for much of my research career [6]”. This conversation laid the foundation to the ground-breaking discoveryof fullerenes (C60) otherwise popularly knownas “Buckminsterfullerenes” which eventually bagged them the Nobel prize for chemistry in 1996. This was followed by the discovery of hollow nano-dimensional tubular structures of graphitic carbon by Sumio Iijima, Nippon Electric Company (NEC) Corporation in 1991. His discovery initiated a whirlwind in research in carbon chemistry, which inspired many scientists to take up further research on this highly functional form of CNMs. Moving forward in the timeline of CNMs evolution (Fig. 1), graphene was the next major achievement in the field of carbonaceous nanomaterials. Though the term graphene was first coined in 1986 by German chemists Ralph Setton, Hanns-Peter Boehm and Eberhard Stumpp, the first successful isolation of a single atom thick layer of crystallite was done from graphite by Geim and Novoselov [7]. This phenomenon not only introduced a highly resilient form of carbon material to the scientific society, but was also awarded Nobel Prize for physics in 2010. These important milestones in the journey of CNMs have established CNMs as a cornerstone in material science.