Central and Eastern Europe has not occupied an important place on India’s external policy agenda so far. However, since many CEE countries have joined the European Union and India is now a major emerging power, the time is ripe to open a new era in the relationship. The history of close ties and untapped potential for economic cooperation bodes well for India’s re-engagement in the region. Holding a regional economic summit could be the right step to examine the existing opportunities for trade and investment and push for closer cooperation. Poland may use the momentum to play a leading role in this regional dialogue.