Production of good quality products at lower cost is the main objective of the modern industrial sector and this can be achieved by applying optimization techniques to the manufacturing conditions. This paper explains and demonstrates the influence of optimal set of parameters such as Drill tool point angle, spindle speed and feed rate on various response parameters like Thrust Force, Torque, Surface finish and Delamination factors of C-C work material drilling operation with a solid carbide tool. C-C material is highly used in manufacturing of space shuttles and other expensive aerospace industries. The material is gaining significant position and its growing significance caused interest in the machining process of this unique material among researchers. An experimental analysis is carried out by using Taguchi method with Grey Relational Analysis and also the confirmation experiments were conducted to validate the optimal results.