The National Education Policy (NEP) 2020, approved by the Union Cabinet of India, represents a transformative and ambitious framework aimed at overhauling the Indian education system. Positioned as the cornerstone for building a progressive, equitable, and knowledge-based "New India," the policy seeks to address long-standing structural challenges while preparing learners for the demands of the 21st century. This research paper provides a comprehensive analysis of NEP 2020, examining its foundational pillars, paradigmatic shifts, and implementation roadmap. It evaluates the policy's emphasis on universal access, multidisciplinary learning, critical thinking, holistic development, and the integration of Indian knowledge systems with modern scientific inquiry. The paper also critically assesses the policy's alignment with sustainable development goals, its approach to technology integration, and the significant challenges in governance, financing, capacity building, and ensuring equity. Through a review of official documents, scholarly commentary, and comparative analysis with previous policies, the study concludes that while NEP 2020 provides a visionary blueprint for creating a revitalised educational ecosystem capable of fueling national resurgence, its ultimate success as the "foundation of New India" will hinge on effective, collaborative, and context-sensitive implementation at all levels.