Many advanced methods are developed for the synthesis of emulsions in the literature, but the effect of imperative parameters of emulsion like oil concentration, pH, temperature, and time on the emulsion stability index (ESI) by design of experiments have not been studied previously. The ESI is an important parameter of emulsion to run the industrial process extensively and reflects the emulsion efficiency to sustain against instability like creaming, coalescence, and flocculation. In the present study, the research plan consists of three phases. In the first phase, the synthesis of an eco-friendly and cost-effective mustard oil-based nanoemulsion with a suitable selection of the surfactant on the bases of the polydispersity index (PDI) is developed. In the next phase emulsions, characteristic properties are scanned by employing various techniques and antirust property compared with reference emulsion. Finally, the impact of emulsion's parameters on ESI is studied by factorial design. The findings that depict the impact of parameters of oil concentration and time on ESI are found influential, whereas the effect of pH and temperature is insignificant. Therefore, good characteristic results, stability, and the inhibition against rust of newly developed emulsion can be adapted to run the cold rolling process smoothly. Practical Application: In the present era, metal processing industries are forced to explore the environmentally friendly oil-in-water emulsions (that used as an interface, lubricant, cooling, and antifrictional agents in cold rolling industries) to overcome increasing environmental pollution. Mustard oil-based emulsion modified by nanoparticles (Nps) offers a good source of eco-friendly, cost-effective, and economic booster for metal processing industries. The antimicrobial properties of mustard oil are well defined in previous research articles. Such oil is a magnificent source for the synthesis of the emulsion and modification of mustard oil-based emulsion with titanium dioxide. Nps provide significant protection against rust. Such applications can encourage the use of mustard oil-based nanoemulsion for metal processing industries.