Graphene, a 2 dimensional form of carbon, has revolutionised the world of academics and technology over the past two decades. The unique transport phenomena in graphene has been a source of interest for scientists and engineers alike. While the properties of graphene in its solid phase or as a component in solid composites has been extensively studied, the calibre of graphene to modify and tune transport properties in the colloidal phase has been scarcely investigated. The contents of the present work provides a clear and comprehensive picture of the physics and mechanisms behind the augmented thermophysical and electromagnetic transport in graphene nanofluids and novel graphene nanogels and probes the properties and mathematically predicts the same for design and utility of such nanosuspensions in targeted applications and systems.