[4] The institute aims to carry out research in the diverse and rapidly growing areas of nanoscience and technology with specific emphasis on the following areas: Agricultural Nanotechnology, Nanomedicine, Energy and Environmental Science, Quantum Materials and Device Physics, Nano Electronics, Microfluidics Based Technologies, Nanobiotechnology[5] The Institute of Nano Science and Technology is managed by a Board of Governors, composed of academics, researchers and administrators and headed (chairman) by Dipankar Das Sarma of Indian Institute of Science.

Founding chairman of the Board of Governors was C. N. R. Rao of Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), Jakkur, Bangalore.

Land for setting up the state of the art laboratories at permanent campus of INST was allotted by Punjab Government.

The laboratory is equipped with microscope, diffractometer, scattering system, spectrometer, analyzers, surface profiler, electrochemical workstation, fluorometer, calorimeter, rheometer.

Institute of Nano Science and Technology covers basic research addressing the diverse aspects of nanoscience and nanotechnology.