The international community inside and outside the Conference of Disarmament is underscoring the need for concluding a fissile material cut-off treaty (FMCT). The Indian government, for a long period, has been sponsoring the idea. Notwithstanding the international stagnation, the issue has been instigating periodic debate in India on the Indian approach. The periodic revival of the issue requires that India revisit its policy on fissile material production as well as its approach towards a possible FMCT. This article examines the question: should India's approach to conclude an FMCT be within the UN institutional framework? The new international reality is pushing for a new context, new realignments and a fresh outlook for an FMCT. India should take its own time to support conclusion of an FMCT so that its national interests and security are not adversely affected.