India, like many other developing countries in the world, is presently witnessing rapid ageing of its population. Almost eight out of 10 older people in India live in rural areas. Urbanisation, modernisation and globalisation have led to changes in economic structure, erosion of societal values and the weakening of social institutions such as the joint family. In this changing economic and social milieu, the younger generation is searching for new identities encompassing economic independence and redefined social roles within, as well as outside, the family. The changing economic structure has reduced the dependence of rural families on land, which had provided strength to bonds between generations. The traditional sense of duty and obligation of the younger generation towards their older generation is being eroded. The older generation is caught between the decline in traditional values on the one hand and the absence of an adequate social security system, on the other. This paper explores the nature and extent of the social and economic pressures that are impinging on intergenerational relationships and discusses the implications for policy towards improving the wellbeing of India’s senior citizens.