The employability of nanoparticles (NPs) is emerging in many industrial applications beyond traditional hazards and risk assessment models. Drug delivery and cancer diseases identification in medicine, fish feed production, nutrient enrichment in aquaculture development, fertilizer and pesticide innovation to improve yield in agriculture, bacterial identification, food quality monitoring in food processing, air pollution, environmental remediation, molecular and crop biotechnology, forestry applications, activated material use in water purification, cosmetics industry, bacterial action improvement in microbiology, electronic appliances development, nanoengineered infrastructure development in transportation, renewable energy synthesis, and alternating fuel modifications via NPs are major implications of NPs. In Sri Lanka, the Sri Lanka Institute of Nanotechnology and many other state universities and research institutes conduct studies on NPs in water treatment, agriculture, textile, and health care. Many of the findings highlighted the need of information for effective regulatory policy instrument formulation to meet the growing demand for sustainable goods products and services in the context of NP applications in industries. The applications of NPs can be focused to achieve sustainable solutions to emerging environmental issues. However, the existing knowledge gaps of applications of NPs should be immediately addressed while ensuring human and environmental health and safety via effective monitoring programs while overcoming the challenges of applications of NPs in the industry through collaborative approaches of stakeholders.