The enormous attention and interest by both academics and industrial field for greener, biodegradable and renewable materials implicate a persuasive trends towards the encroachment of nano-materials science and technology in the polymer composite field. Nanocomposites creates high impacts on the development of nano materials with advanced features to solve potential risks with their wider industrial applications. Nano fibres are highly engineered fibres with diameters less than 100 nm that offer several advantages over conventional fibres. One dimensional (1D) nanostructure fillers such as carbon nanofibre and cellulose nanofibre are the most common, promising and unique for developing multifunctional nanocomposites with better properties and extensive applications compared to micro size fibres. Nano fibre technology brings revolution by providing products that are completely safe, truly greener, reliable and environmentally friendly for industries, researchers and users. This review article is intended to present valuable literature data on research and trend in the fields of carbon and cellulose nano fiber, nanocomposites with specific focus on various applications for a sustainable and greener environment.