The spontaneous organization of discotic liquid crystalline materials into welldefined columns through molecular self-assembly has paved the way for the development of various types of sustainable organic electronic materials. Their applications in optoelectronic devices like organic photovoltaics, organic light-emitting diodes, and organic field effect transistors, have been established to be the result of their one-dimensional charge-carrying ability. Whereas, owing to their long-term multicolour fluorescence tracking/labelling and hightemperature stability they are quite effective as drug-delivering agents, biomedical sensors, and bio-markers highlighting the importance of discotic liquid crystals in everyday life. These classes of molecules are privy to the attainment of various desirable characteristics through simple structural modifications at the molecular level, which in turn can broaden the horizon for more efficient products as well as applications. This presentation will shed light on the necessity of the design, synthesis, and characterization of novel discotic liquid crystals along with the scope of this work for their potential applications.