The energy transfer efficiencies of organic–inorganic nanohybrids comprised of two structurally similar squaraine dyes and CdSe nanoparticles were studied in detail and compared. Carbazole based unsymmetrical squaraine dyes (CTSQ-1 and CTSQ-2) having modified absorption characteristics were considered for modulating the effect of the overlap integral on energy transfer rate with the designed QDs. CTSQ-2 with ∼1.75 times higher molar extinction coefficient and 35 nm red-shift in absorption resulted in an ∼2.4 times faster energy transfer rate with QD. The calculated energy transfer rates (kT = 1.35 × 108 s–1 and 3.26 × 108 s–1 respectively for QD:CTSQ-1 and QD:CTSQ-2 nanohybrids) are at least one order of magnitude higher than both radiative (kr = 5.97 × 106 s–1) and nonradiative decay rate constants (knr = 1.89 × 107 s–1) of QDs yielding very high FRET efficiency. The Stern–Volmer analysis of the quenching data indicated mainly static interaction of dyes with the QDs thus suggesting formation of organic–i...