This paper explores the several functions of millets in India, providing a thorough analysis of their production and consumption trends as well as the resulting effects on food security. In addition, a thorough examination of consumption trends provides insight into the nutritional choices and dietary habits of the Indian population. This study delves into the importance of millets in relation to food security and highlights its capacity to mitigate nutritional inadequacies, bolster climate variability tolerance, and promote sustainable farming methods. The results are intended to educate stakeholders and policymakers on the critical role that millets play in supporting diverse diets, strengthening India’s food security framework, and advancing agricultural sustainability. Millets are resilient crops that are also a rich source of nutrients. Since the government placed more of an emphasis on fine grains and did not have appropriate policies for millets, the cultivation of millet has decreased throughout the nation. The area, productivity, and production of ragi, bajra, jowar, and small millets were the main subjects of the study. Pune, Mumbai, Nagpur, and Nashik are the states that produce the tiniest millets, jowar, bajra, and ragi, correspondingly. The area planted to small millets, jowar, bajra, and ragi decreased between 2018 and 2022 at a compound annual growth rate (CAGR) of 3.60%, 1.86%, 1.27%, and −0.60%, respectively. The output of the small millets and jowar has fallen with growth rates of −2.89% and −0.63%, respectively from 2019–20 to 2021–22 and ragi production increased with growth rate of 1.68%. According to decomposition analysis, the yield effect boosted ragi and bajra production, while the areas effect enhanced jowar and small millets output. Over time, less people have been eating these millets in both rural and urban areas.