He said the ideals of Buddhist philosophy are reflected in the Constitution, especially in the stated principles of equality, fraternity and social justice.
"I believe the message of non-violence, love and compassion given by Gautam Buddha is extremely relevant in today's environment of insecurity and unrest."
Kovind said Vipassana, a meditation technique propounded by Lord Buddha, should be spread across the world.
"Vipassana helps us connect with our inner selves. It is an effective way to cleanse our mind and body and equips us to face the stress of modern life. If practised correctly, it can provide the same benefit as that received from certain medicines. In this way, Vipassana is also beneficial for health in addition to being a meditation technique," he said.
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Like Yoga, the ancient meditation technique, should not be seen as being associated with any particular religion. It is for the welfare of all humanity, Kovind said.
He said acknowledged Maharashtra's role in the spread of Vipassana.
The president said the urge for social change was central to Lord Buddha's philosophy and inspired many social reform movements.
A number of such movements took place in Maharashtra itself and they, in turn, set an example for social reform in other parts of India, especially in the 19th and 20th centuries, Kovind said.
Ambedkar, the architect of the Constitution, had said that appreciation of the democratic system was present in ancient India and its roots in our country have been strong since old times, the president maintained.
Chief Minister Devendra Fadnavis and Union minister Nitin Gadkari were also present on the occasion.
He said the Vipassana centre here and the Dragon Palace Temple have become major centres of attraction for not only people living in India but also abroad.
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