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The flag of Jainism has five colours: white, red, yellow, green and blue. These five colours represent the Pañca-Parameṣṭhi (five supreme beings). It also represents the five main vows of Jainism.
These five colours represent the "Pañca-Parameṣṭhi" and the five vows, small as well as great:
It is also believed that the complexion of all the 24 Tirthankaras was of one of these five colours. For instance, Chandraprabha and Pushpadanta were white, Munisuvrata and Neminatha were blue or dark colour, Padmaprabha and Vasupujya were red, Suparshvanatha and Parshvanatha were green, while the remaining were golden or yellowish.
The swastika in the centre of the flag represents the four states of existence of soul. The four stages may be:
It represents that the soul can embody any of these forms, owing to karma, which may escalate it to higher-level forms such as heavenly beings, or degrade it to lower-level forms such as lesser animals or hell beings.
The purpose of soul is to liberate itself from these four stages and be arihants or Siddha eventually.
The three dots above the swastika represent the Ratnatraya (three jewels) of Jainism:
These are part of the Jainist paradigm by which jīva (living souls) seek to rid themselves of karma and the cycle of rebirth, saṃsāra, which it develops.
The curve above the three dots denotes Siddhashila, a place in the highest realms of Universe, composed of pure energy. It is above hell, earth, or heaven. It is the place where souls that have attained salvation, for instance, Arihants and Siddhas reside eternally with supreme bliss.
Respect for Jain Flag is respect for Pañca-Parameṣṭhi (Supreme Five). According to Jainism, respect for Pañca-Parameṣṭhi abiding the Ratnatraya (Three Jewels) destroys the sorrow of the four states of existence and finally guides one to the sweet home of infinite bliss (Siddhashila).
Flag atop the Shri Mahavirji temple, Rajasthan, India