The present disclosure is directed to a catalyst for carbon dioxide to methanol conversion comprising: 1-10 wt % of Nickel; 5-15 wt % of Zinc; and 80-95 wt % of metal oxide, wherein the wt % is based on the total weight of the catalyst. The present disclosure also provides a method for preparation of a catalyst for carbon dioxide to methanol conversion comprising: i) dissolving 1-10 wt % nickel precursor and 5-15 wt % zinc precursor in a solvent to obtain a first mixture; ii) adding 80-95 wt % metal oxide in the first mixture as obtained in step (a) to obtain a second mixture; iii) evaporating the solvent from the second mixture as obtained in step (b), drying and calcining in air at a temperature in the range of 350° C. to 500° C. for a period in the range of 2 hr to 4 hrs to obtain calcined mixture; and iv) reducing the calcined mixture as obtained in step (c) under hydrogen atmosphere at a temperature in the range of 500° C. to 700° ° C. for a period in the range of 1 hr to 3 hrs to obtain the catalyst. The disclosure also provides a low pressure process for conversion of carbon dioxide to methanol.