Quantum Technology is going to be a major disruptive innovation for the whole human kind in days to come. This will revolutionise the entire technological chain and affect at component level, thus changing the complete face of technology in years to come. The various components of quantum technology and its effect are discussed in this presentation. The status of development in the entire world and in India are also analyzed.  The inescapable necessity to focus and achieve quantum supremacy is also brought out. Quantum technology consist of communication, computing, sensors, materials etc., thus penetrating every walk of life of the human being. It directly affects the financial markets, security, defence, health and education. Therefore, a concentrated massive effort is to be put up to acquire and develop these technologies at the earliest in the country.