Small millets, a group of highly nutritious food, have taken a back seat in the Indian agriculture landscape in recent years, due to government policies and failings in the value chain. In this commentary, the unusual decline of small millets in comparison to its substitutes, and the repercussions thereof, were first presented as context. Thereafter, based on analysis of data from literature, survey, and stakeholder contributions, a cluster map for the Indian small millets value chain was designed, and its competitive state presented. This information was used to conceptualize an open innovation driven business model, and an ecosystem for the proposed model was discussed. This commentary provides the first cluster map analysis of small millets value chain in India, and a business model-based approach to stimulating its agribusinesses growth through a synthesis of stakeholders’ contributions and market data.