As per the 5th round of NFHS, India's total fertility rate (TFR) slipped to 2.0. This drop in India's TFR, from almost 6 in the 1950s, to its current level is a significant feat. However, despite the decline, the story is different for some states. Tracing the trajectories of some selected states towards demographic transition, the article highlights the need for investment in health, education, and skill development to leverage demographic dividend and advocate policies for a growing pool of senior citizens.