New Delhi: As the world fights extraordinary challenges, their lasting solutions can come from the ideals of Lord Buddha, Prime Minister Narendra Modi said on Saturday (July 4).

Addressing the Dhamma Chakra Day event on the occasion of Ashadha Poornima, the prime minister said the eight-fold path of Lord Buddha shows the way towards the well-being of many societies and nations.

It highlights the importance of compassion and kindness, he said adding that the teachings of Lord Buddha celebrate simplicity both in thought and action.

"Today the world fights extraordinary challenges. To these challenges, lasting solutions can come from the ideals of Lord Buddha. They were relevant in the past. They are relevant in the present. And, they will remain relevant in the future," Modi said at the event.