In this article, I argue that globalization is interwoven with colonialism and coloniality and both psychology and human development are shaped by the enduring legacy of Eurocentric colonial knowledge. In particular, I draw on my ethnographic research in Pune, India, to show how the transnational elite, middle- and working-class urban Indian youth are engaging with new practices of globalization. I examine how particular class practices shape youth narratives about globalization and “Indianness” generally, as well as specific stories about their self, identity, and family. This article is organized around three questions: (a) How has Euro-American psychology as a dominant force supported colonization and racialized models of human development? (b) What kind of stories do urban Indian youth from varied classes tell about their identity formation in contexts of neoliberal globalization? (c) How can we create and promote models of human development and psychology that are inclusive of the lives of people who live in the Global South?