Globally, billions of people are experiencing food insecurity and malnutrition. The United Nations has set a global target to end hunger by 2030, but we are far from reaching it. Over the decade, climate change, population growth and economic slowdown have impacted food security. Many countries are facing the challenge of both undernutrition and over nutrition. Thus, there is a need to transform the food system to achieve food and nutrition security. One of the ways to reach closer to our goal is to provide an affordable healthy and nutritious diet to all. Millets, the nutri-cereals, have the potential to play a crucial role in the fight against food insecurity and malnutrition. Nutri-cereals are an abundant source of essential macro- and micronutrients, carbohydrates, protein, dietary fiber, lipids, and phytochemicals. The nutrient content and digestibility of millets are significantly influenced by the processing techniques. This review article highlights the nutritional characteristics and processing of Indian millets, viz. foxtail, kodo, proso, little, and pearl millets. It also envisages the effect of traditional and modern processing techniques on millet’s nutritional properties. An extensive literature review was conducted using the research and review articles related to processing techniques of millets such as fermentation, germination, dehulling, extrusion, cooking, puffing, popping, malting, milling, etc. Germination and fermentation showed a positive improvement in the overall nutritional characteristics of millets, whereas excessive dehulling, polishing, and milling resulted in reduction of the dietary fiber and micronutrients. Understanding the changes happening in the nutrient value of millets due to processing can help the food industry, researchers, and consumers select a suitable processing technique to optimize the nutrient value, increase the bioavailability of nutrients, and help combat food and nutrition security.