Pure elements do not possess all the desired properties, both magnetic and nonmagnetic, to meet the manifold requirements for industrial applications. Thus there is an ample scope for property improvement by alloying and other metallurgical means. Alloying of the material primarily increases the resistivity. Nickel addition to iron exerts pronounced effects on nearly all basic magnetic properties. Fe-Ni alloys are known for their high saturation magnetization, resistivity, permeability, low coercivity and good corrosion resistance. The nanocrystalline Fe-5 wt% Ni+0.7 wt% resin soft magnetic composite shows electrical resistivity as high as 520 µÃƒÂ¢Ã‚„¦cm and loss factor of 1Ω/µH at such a high frequency of 1MHz. Molybdenum enhances the permeability of Ni-Fe alloy. These alloys have numerous applications in the clocks, watches and automobile pistons, as absolute standards of length, in rod and tape form for geodetic work and as thermostatic strips.