In 1917, Albert Einstein proposed the theory of stimulated emission

of light [1] which introduced the idea of lasing action. In 1958,

Schawlow and Townes proposed theory for lasing action based

on extension of MASER (microwave amplification by stimulated

emission of radiation) to optical frequencies [2]. Two years later, in

1960, Maiman developed first LASERwith ruby as an active medium

[3]. With the development of high power lasers, the prospects

of laser-solid interaction were realized and a new era of laser-

induced material processing commenced [4, 5]. The investigations

on laser-liquid interaction started after two decades. The laser-

induced breakdown (LIB) in liquids was probably first reported by

Bell and Landt in the year 1967 [6]. The studies on laser ablation of

solid immersed in liquids for material processing were unexplored

until 1987when Patil et al. first reported the lasermatter interaction

at solid-liquid interface [7]. The LIB in liquid is accompanied by

plasma formation and mechanical effects such as shockwave and

cavitation bubbles. The basic difference between laser ablation of

solids in vacuum or gases and at solid-liquid interface is the plasma

confinement by the surrounding liquids which generates a localized

region of high pressure of the order of few GPa [8]. This situation

mesmerizes the thermodynamic and kinetic aspects of plasma and,

under a suitable situation,may lead to the formation of nanocrystals.