This general article offers an overview of the ethical concepts in Indian philosophy and their organic interrelationship. The article tries to indicate that ethics is a way of life for the Indian mentality, and the basic concepts are so intimately connected that they form a holistic framework within which ethics, economy, and spirituality make sense. The authors take up ten fundamental notions of Indian philosophy related to ethics and trace their philosophical significance and contemporary relevance, with special reference to business ethics and practices. The authors show that the ancient Indian philosophical tradition provides a pertinent understanding for handling contemporary ethical, social, cultural and environmental issues. By incorporating these ideas into daily life, people and civilisations can lead a more fair, compassionate, and morally fulfilling life.