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Knowledge is the Supreme Power of society. The ancient times, knowledge has been acquired through various Process of learning such as Shravana(listening),Manana (contemplation), and Nididhyasana (deep meditation).Education and knowledge both are interrelated. The modern education policy currently formulated is the National Education Policy (NEP) 2020.The Indian knowledge system acquisition outlined in this education policy has assumed a significant role in modern society. Indian Knowledge System (IKS) enables a holistic approach.IKS focuses on sustainable development in the society and individuals. Through this article, we will examine the concepts, opportunities and challenges associated with the Indian Knowledge Systems as outlined in the National Education Policy. Furthermore, we will explore potential strategies to address these existing issues. Additionally, an endeavor has been made to demonstrate how, within the context of modern society, the scope of its application can be expanded to ensure that people from all individuals of society benefit from this knowledge The study adopts a descriptive Research based on secondary data including policy Papers s, academic literature reviews, and government reports. were carefully analyzed to understand the conceptual framework of the Indian Knowledge System.