I am able to mount Google drive using the code below:
from google.colab import drive
drive.mount('/content/drive')
But the above mounts the Root folder enabling all file access within the drive.
I want a particular folder in Google drive to to be mounted (for example just the dataset folder). How can I achieve that?
It's not possible to mount a subfolder, only top-level Drive. You can mount Drive in some out-of-the-way place and then symlink the folder you want someplace more central, e.g.:
from google.colab import drive
drive.mount('/gdrive')
!ln -s "/gdrive/My Drive/theFolder" "/content/theFolder"
If you have confidential files, you can create a new google login for collab studies, at least until google creates a way to mount the folder and not the entire driver.