The vision of positive psychology is to view education as an enabling and empowering process which can be supplemented with the Indian thought system for application in teaching-learning process to achieve the desired goal, i.e. holistic well-being and sustainable happiness in life. Emotions influence the choices, problem-solving, and decision-making of people in all walks of life as well as shape attitudes. In an era of competition and call for excellent performance, a closer understanding of the dynamics of emotions is crucial for performance in the professional world. This chapter focuses on the regulation of emotional well-being by understanding the asymmetry between positive and negative affects; optimism and pessimism as individual difference variables, and the consequent attribution style. The chapter also presents an indigenous model explaining the complex interplay of personality types with spirituality and the consequent outcomes.