This chapter explores the social and economic aspects of using nanotechnology to clean industrial effluent. The economic feasibility and cost-effectiveness of nanomaterials-based treatment technologies are assessed in the first section. The analysis illustrates possible cost reductions, long-term advantages, and the scalability of nanotechnology in industrial applications by contrasting these cutting-edge technologies with traditional techniques. The effectiveness and sustainability of nanomaterial applications are emphasized, and the conversation also touches on life cycle costs, maintenance needs, and the possibility of resource recovery. The chapter's second portion examines public opinion, society acceptance, and ethical issues related to the application of nanotechnology in wastewater treatment. It looks into things like safety issues, perceived benefits vs dangers, and transparency that affect public trust and acceptability. A comprehensive analysis is conducted of the ethical issues of using nanomaterials, including the effects on the environment and the fair distribution of technical advantages. The chapter seeks to provide a thorough understanding of the complex implications of nanotech solutions in industrial wastewater treatment by addressing these economic and societal factors. This will help to facilitate responsible innovation and well-informed decision-making.