Population aging is unavoidable, and the increasing proportion of the elderly has several economic implications for changes in labor force compositions and labor market outcomes for the elderly in India. Due to a lack of access to old-age social security, a relatively high proportion of older persons continue to work in their old age in India. Across the developing world, the majority of older workers engage in self-employment. In this context, this chapter examines whether self-employment is a matter of choice for the elderly or a compulsion. Further, the chapter analyzes the nature of self-employment of elderly workers in India. The results show that around two-thirds of elderly workers are self-employed in India. The findings suggest that self-employment may not necessarily be advantageous for older workers in terms of the social and economic benefits it offers. The majority of self-employed elderly working as own-account workers and helpers in household enterprises with modest earnings indicates that self-employment is a last resort employment opportunity for most elderly workers in India.