The present inventipn provides nanoparticles for targeted drug delivery which comprises poly(lactic-co-glycolic acid) (PLGA) nanoparticles coated with an amino acidselected from the group consisting.of asparagine, alanine, aspartate, glutamate and glycine.The nanoparticles further comprises Sulforhodamine B (SRB) and/or at least one anti-cancer agent. The present invention also provides a process for the preparation of Nanoparticles for targeted drug delivery.The process involves preparing SRB or an anti- cancer agent loaded PLGA nanoparticles selecting an amino acid from a group consisting of asparagine, alanine, aspartate, glutamate and glycine and coating said SRB or anti-cancer agent loaded PLGA nanoparticles with an amino acid.