Group IIIA phosphide nanocrystalline semiconductors are of great interest among the important inorganic materials because of their large direct band gaps and fundamental physical properties. Their physical properties are exploited for various potential applications in high-speed digital circuits, microwave and optoelectronic devices. Compared to II-VI and I-VII semiconductors, the IIIA phosphides have a high degree of covalent bonding, a less ionic character and larger exciton diameters. In the present review, the work done on synthesis of III-V indium phosphide (InP) nanowires (NWs) using vapourand solution-phase approaches has been discussed. Doping and core-shell structure formation of InP NWs and their sensitization using higher band gap semiconductor quantum dots is also reported. In the later section of this review, InP NW-polymer hybrid material is highlighted in view of its application as photodiodes. Lastly, a summary and several different perspectives on the use of InP NWs are discussed.