The modern copyright law is a creation of statute. The history of Indian copyright jurisprudence reflects constant legislative revisions of statutory law to address technological developments. The Indian Copyright Act, 1957 has been amended six times, since its inception, in the years 1983, 1984, 1992, 1994, 1999 and 2012. Subsequent to the 2012 amendments which came into effect on June 21, 20I2 the copyright rules have been notified on March 14, 2013. The 2012 amendments have received overwhelming appreciation with many progressive changes. To name a few, introduction of provisions for digital rights management, strengthening of border measures, special provisions for persons with disabilities, conferment of affirmative rights for performers, extension of fair dealing to all categories of works covered under section 13, compulsory licensing in respect of foreign works, recognition of moral rights of performers, provisions to streamline the functioning of the copyright societies are examples of welcome amendments. There are certain unwelcome amendments including the removal of parallel importation. Non-inclusion of provisions for multimedia works, non- specification of status of remixes and parodies, non-inclusion of the concepts `unicast' and 'narrowcast,' lack of guidelines for fair dealings etc. are some instances of missed opportunities. This paper, thus aims at (i) analyzing the welcome changes brought about by the 2012 amendments, (ii) commenting on the regressive changes and (iii) highlighting the missed opportunities.