The dharmachakra is one of the Ashtamangala of Indian religions such as Jainism, Buddhism and Hinduism. It has represented the Buddhist dharma, Gautama Buddha's teaching of the path to Nirvana, since the time of early Buddhism. It is also connected to the Noble Eightfold Path.

EtymologyThe Sanskrit noun dharma is a derivation from the root dhṛ, which has a meaning of to hold, maintain, keep,[note 2] and takes a meaning of what is established or firm, and hence law. It is derived from the Vedic Sanskrit n-stem dharman- with the meaning bearer, supporter in the historical Vedic religion conceived of as an aspect of Ṛta.

The word chakra wheel derives from Proto-Indo-European *kʷekʷlos, and its cognates include Greek kyklos, Lithuanian kaklas, Tocharian B kokale, Slavic koleso and English wheel, as well as circle and cycle. *kʷekʷlos is derived from the root *kʷel-, a verb that meant to turn.

Description courtesy of wikipedia.org