The neologism nanotechnology exists today and is attracting a considerable amount of interest and activity. It is complex in nature with multiple ramifications. It has a vast scope and in fact includes older as well as newer concepts. At this point in time, a greater focus on the field status and impact on new materials, especially dielectrics and their insulating properties, would certainly be desirable. A personal view is thus being presented here, with a tentative definition of the concept of nanodielectrics being offered at the end.