Malnutrition and micronutrient deficiencies are one of the major health concerns worldwide. Micronutrient deficiencies, also known as hidden hunger, have negatively impacted human health globally. These deficiencies, particularly calcium and iron, have a negative impact on the overall growth and development of an individual. Hence, it is necessary to search, and adopt new strategies which will help curb these deficiencies as well as enhance the nutritional content of the food. Biofortification is one promising approach which utilizes conventional as well as modern plant breeding techniques to enhance the nutritional content of food. Finger millet (FM, Eleusine coracana (L.) Gaertn), a crop rich in nutrients such as calcium, iron, and dietary fibers, thus serves as an ideal candidate for this approach. The current review explores the biofortification approach and the use of FM in combating food and nutrition security challenges. Additionally, this review also highlights the key genes and gene families involved in the uptake, transport, and storage of calcium and iron. Emphasis is also placed on the current scenario and usage of molecular markers for improvement and selection of FM varieties with desired traits.