The COVID-19 pandemic has brought unprecedented, major challenges to the ethical conduct of research including challenges for the rapid and robust ethical review of biomedical research. The Indian Council of Medical Research's "National Guidelines for Ethics Committees Reviewing Biomedical and Health Research during COVID-19 Pandemic" aim to assist ethics committees in this time of crisis, whilst simultaneously protecting researchers and research participants. Whilst ethics committees are encouraged to approve studies rapidly, the Indian guidelines also make clear that no shortcuts will be taken. Informed consent must be obtained innovatively, but cannot be dispensed with. Vulnerable people should only be involved in clinical research that is relevant to their health needs. Approaching communities for research also requires new, trust-building methods, given that healthcare workers and researchers have been assaulted during their COVID-19 research. Importantly, the media must carry their share of responsibility and avoid spreading fake news. From an Indian perspective, the question of whether we are sitting on a volcano that might erupt at any time causing more damage than we ever expected is currently unclear. Only global collaborative efforts will help to tide over in the present crisis.