The National Education Policy (NEP) 2020 marks a significant paradigm shift in India’s approach to language and education by recognizing multilingualism as a cognitive, pedagogical, and cultural resource. The policy emphasizes mother tongue or home language as the medium of instruction in early schooling, promotes the three-language formula with flexibility, and seeks to revitalize Indian and indigenous languages. This qualitative study examines the role of multilingualism and Indian languages under NEP 2020, focusing on its conceptual foundations, pedagogical implications, implementation challenges, and equity outcomes. Using thematic analysis of policy documents, scholarly literature, and institutional reports, the study reveals that while NEP 2020 is strongly aligned with global research on multilingual education, its implementation faces systemic challenges related to teacher preparedness, curriculum development, assessment practices, and socio-political perceptions of language. The paper argues that effective realization of NEP 2020’s multilingual vision requires sustained investment, capacity building, and culturally responsive policy execution. The National Education Policy (NEP) 2020 marks a significant paradigm shift in India’s approach to language and education by recognizing multilingualism as a cognitive, pedagogical, and cultural resource. The policy emphasizes mother tongue or home language as the medium of instruction in early schooling, promotes the three-language formula with flexibility, and seeks to revitalize Indian and indigenous languages. This qualitative study examines the role of multilingualism and Indian languages under NEP 2020, focusing on its conceptual foundations, pedagogical implications, implementation challenges, and equity outcomes. Using thematic analysis of policy documents, scholarly literature, and institutional reports, the study reveals that while NEP 2020 is strongly aligned with global research on multilingual education, its implementation faces systemic challenges related to teacher preparedness, curriculum development, assessment practices, and socio-political perceptions of language. The paper argues that effective realization of NEP 2020’s multilingual vision requires sustained investment, capacity building, and culturally responsive policy execution.