Wishing for a sustained feeling of well-being and flourishing of the entire universe is the keynote of all the spiritual traditions of India as represented in the popular prayers cited above. They are recited most frequently in India on most occasions be it religious or not. Vedic, Jaina, and Buddhist are the most ancient traditions of India. Notwithstanding their differences, they agree upon certain basics related to ontology, epistemology, and ethics which constitute the primary components of a worldview that lead to our thought ways (eidos) (darshana) and lifeways (ethos) (dharma). Thus, within the larger framework of the spiritual worldview of these traditions notions of happiness, well-being, and flourishing go beyond individual concerns to include the collective and the universal. In the past two decades two visions/versions of Positive Psychology (PP1 and PP2) have emerged primarily proposed by Martin Seligman and Paul Wong respectively. Seligman’s vision began with an emphasis on studying positive experiences, positive traits, and communities and institutions in a society that promote positivity. His vision extended from “Authentic Happiness” to “Flourishing” in a decade (2002–2011). In this vision, the role of pain and suffering in finding the meaning of life and in defining well-being is not given importance. On the other hand, Paul Wong emphasises that the term positive psychology need not imply we neglect pain and suffering though they are associated with so-called negative emotions. According to him, they play a significant role in finding and leading a meaningful life as Victor Frankl demonstrated from his experiences in Auschwitz and as other existential thinkers have observed. Therefore, the two visions taken together provide a more comprehensive perspective on positive psychology. However, neither of them considers some specific notions of happiness, well-being, and flourishing that Indian traditions espouse from a spiritual/transcendental perspective. Therefore, in this chapter, they are discussed as Positive Psychology 3. The concept purushārtha is employed as the key construct and it is proposed that PP 3 is inclusive of PP1 and PP2.