Inorganic chemistry has contributed to the progress of human civilization in several different ways. Its activities at the interface with other scientific disciplines has led to emergence of several new fields like organometallic chemistry, bio-inorganic chemistry, solid-state chemistry, environmental chemistry, etc. In the past few decades, it has made inroads in yet another dimension of immense relevance, i.e. nano-science and –technology. In this assay an attempt has been made to present an overview of utility of inorganic and organometallic compounds as precursors for the synthesis of nano-materials with reference to catalysis and materials science. Applications of metal nanoparticles (NPs) and metal chalcogenide NPs, generated through molecular precursor route, in catalysis have been discussed. Synthesis of ternary and quaternary metal chalcogenide nano-materials by molecular precursor route has been reviewed.