The recent revival of interest in the importance of virtues marks a shift of substance and method in thinking about it. The shift is away from discussion of rules and principles and focused on a discussion of traits, character and conditions of their excellence. This article attempts at unfolding the exact nature of an Indian ethics of virtue, which is yet to be explored in a systematic way. This enquiry into the exciting terrain of Indian philosophy inevitably leads to the interesting debate regarding the very possibility of an Indian ethics of virtue.