A catalyst composition for the production of carbon nanotubes (CNT) with controlled morphology is disclosed. The catalyst is represented by formula [(MxMny)Moz][binary metal oxide](100−(x+y+z)), where x is in the range 1 to 25 wt %, y is in the range 0.1 to 20 wt %, and z is in the range 0.0 to 10 wt %. Further M represents either iron or cobalt or nickel along with manganese and molybdenum supported on binary metal oxides comprising of boron, magnesium, aluminum, silicon, calcium, barium, and combination thereof. The CNT morphology can be tailor-made with the plural combination of nature of metal and promoters in appropriate proportions. The process yields the CNT with bulk density in the range of 0.01 to 0.20 g/cc, diameter in the range of 5 to 30 nm and purity greater than 95 wt %.