The colonel, accused of facilitating communications between the attackers and handlers in Pakistan, was named along with 34 other suspects.
The diplomatic row between India and Pakistan continues to deepen following the November terrorist attack as both countries send more troops to their borders.
The US is finalizing a $15 billion aid package, Sen. John Kerry told Indian newspapers Monday.
Army Chief Ashfaq Kayani has been curtailing the political influence of a military accustomed to running the country.
It targeted a camp of the group linked to the Mumbai attacks Sunday.
Zaki-ur-Rehman Lakhvi, an operations chief for Lashkar-e-Taiba, was reportedly captured Monday in Pakistani Kashmir.
The Mumbai attacks have brought old suspicions to the fore. Indians suspect militants from Pakistan; Pakistanis reject what they call a typical blame game.