Fourier Transform Infrared Spectroscopy (FTIR) is a dynamical instrumental technique used in industry for measuring high quality infrared spectra. Over the last 25 years, the increased demand for having an efficient real-time quantitative measurement technique has led to extensive research and development in the field of FTIR Spectroscopy. Through the use of FTIR, sensitivity has increased, size of the smallest sample that can be analyzed has been reduced, and the number of new applications has exploded. In this thesis, an attempt is made to study the principles, theory, instrumentation and applications of FTIR Spectrometry. We survey the working of spectrometer, computation techniques, methodology, spectral manipulations, hardware, trading rules and the applications.