The New Telecom Policy 1999 updated the 1994 policy to reflect technological developments and make India an IT leader. It aimed to provide affordable communications for all, balance urban and rural access, and transform the sector into a competitive market. Major changes included allowing more service providers in each area with 20-year licenses, replacing fixed fees with one-time entry fees and revenue sharing, and opening additional services to competition like national long distance in 2000 and international long distance by 2002.