Buddhist,
one of the ashtamangala (“eight auspicious signs,” symbolizing the
eight-fold paths of Buddhism. The canopy symbolizes preservation and
protection of the dharma against suffering and sorrow.
The
parasol is an ancient emblem of wealth and status, patterned after the
decorative canopies which have been traditionally used to protect and
cover royalty.
The parasol can also be viewed as a sort of axis mundi, a symbolic tree of life, and can be likened to the sacred Bodhi tree.
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