A new variety in natural fibre and is first of its kind i.e. Palmyra Palm botanically called Borassus Flabellifer ‘petiole fibre’ is introduced in the present work. The main aim of the work is to extract the neat fibre and is characterized for its tensile and surface characteristics. The composites are fabricated by reinforcing untreated and treated palmyra palm petiole fibre and are tested for their mechanical, dielectric properties strictly as per ASTM procedures. The highest tensile strength, modulus of 56.69 MPa, 1052.83 MPa is achieved in palmyra palm petiole chemically treated FRP composites. An improvement in the flexural strength, modulus of 3.16 %, 34.76 % is attained for the composites reinforced with chemically treated fibre when compared with palmyra palm petiole FRP composites. The impact strength of 97.07 % more is arrived at the composites reinforced with palmyra palm petiole fibre than the plain specimen. The designer will receive an incitement to select the reasonably light weight insulating material from the data of dielectric strength against fibre content. The surface of untreated and chemically treated fibre is examined using SEM.