This paper analyses the crosstalk effects in carbon nanotube (CNT) interconnect, and its impact on the gate oxide reliability. Using the existing models of CNT, circuit parameters for the single-wall CNT-bundle and multiwall CNT interconnects are calculated and the equivalent circuit has been developed to perform the crosstalk analysis. The crosstalk-induced overshoot/undershoots have been estimated and the impact of the overshoot/undershoots on the gate oxide reliability in terms of failure-in-time rate is calculated. A similar analysis is performed for Cu-based interconnects and comparisons are made with the results obtained for CNT-based interconnect. It has been found that the CNT-based interconnect is more suitable in VLSI circuits as far as the gate oxide reliability is concerned.