The Indian Ocean is emerging as a critical arena for global trade, strategic competition, and regional integration. India can serve as a hub, connecting countries in the Indian Ocean Region through a robust network of trade, investment, logistics, and digital infrastructure. In the backdrop of tensions in West Asia and disruptions at maritime chokepoints, the economic integration of Indian Ocean region can partially insulate countries of the region from shocks outside the region or on its periphery. This paper examines the feasibility and phasing of a regional trade bloc in the Indian Ocean Region (IOR) comprising economic aspects like trade, tourism, investment, and people-to-people connections. The paper devises economic and human connectivity indices to estimate the magnitude of connections between India and other IOR countries and identify areas for enhancing these connections. The opportunities for enhancing trade in minerals and energy within the IOR are also explored. Findings suggest that regional integration supported by stronger trade, investment, tourism, shipping, and people-to-people ties is both feasible and mutually beneficial for IOR countries. Leveraging diaspora connections, investing in transport connectivity, and harmonizing trade standards, could lay the foundation for an Indian Ocean Free Trade Area and subsequently an Indian Ocean Common Market.