Carbon Nanotubes are the nest generation conducting materials with ultra-strength, fast electron conductivity, low power consumption and a velocity equal to the velocity of light. CNT is a tubular form of carbons with diameter as small as 1 nm. CNT is configurationally equivalent to a two dimensional graphene sheet rolled into a tube. There are two types of carbon nanotubes: Ingle walled Nanotubes (SWNTS) and Multi walled Nanotubes (MWNTS) depending on the dimension of the graphite sheet and type of folding. Most SWNTS have length millions of times longer and have a diameter close to 1 nm. These exhibit electric properties that are not shared by the MWNT variants whereas on the flip side MWNTS consists of multiple rolled layers of grapheme and are zero gap metals. Nanotubes can be synthesized by Arc Discharge Method, Laser Ablation Method and chemical vapor Deposition (CVD) method. Carbon Nanotubes are widely used in numerous applications nowadays in Electronics, as conductors and transistors, capacitors, electrical and energy storage and in biological stream. Though it has some limitations too but can be planned to have high future scope.