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The Republic of India.

The flag has two graphic elements. A tricolor horizontal band plus an ancient symbol.
And the flag consists of four colors.

The fact that the flag is based on a design with three horizontal bands is probably because the national flag was a natural evolution of the flag that became popular during the Indian freedom movement, in what was known as The National Congress.
This flag, which was called the Swaraj flag, also had three horizontal bands, with the colors red, white and green.
The color red represented the Hindu people, the green represented the Muslims and the white color on top represented all other religious communities as well symbolizing peace between the different religious communities.
The tension between religious communities made it difficult to unite them in the flag, and it was decided to make the flag more secular. The colors were modified and given a new meaning in a revised version of the original Swaraj flag from 1921. As you can see, the order of the bands was also altered.
It was not only the colors that changed, also the symbol was replaced from the Swaraj flag and what was to become the official Indian flag. In the Swaraj flag there was a symbol of a traditional spinning wheel, a symbol proposed by Mahatma Gandhi to represent that Indians should be seen as self-reliant by fabricating their own clothing and develop the country’s textile manufacturing industry.
This symbol however was replaced by a new but ancient symbol, the Ashoka Chakra. This is a 24-spoke wheel. One for each hour in a day, which is also why the symbol is often referred to as “The Wheel of time”. Each spoke also symbolize one of the 24 principles of life, for example Self-control, Goodness, Honesty, Loyalty, etcetera.
The most symbolic feature however is that the chakra symbolize movement. It intends to show that there is life in movement and death in stagnation. For the Indian country to prosper it is crucial that is adapts to change.

When it comes to the colors in the flag there are no official clarification as to what the colors represents. Even by notable persons involved with the adaption of the flag in the 1940s, the colors are given a different meaning depending on who you ask.

The color saffron, that is a shade of orange, represents the strength and courage of the country. Other sources believe the color symbolize sacrifice and renunciation.

The white middle band represents peace and truth with Dharma Chakra.
The green band symbolizes faith and chivalry. Other sources refers to the fertility, growth and auspiciousness of the land.
The navy blue color of the Chakra is said to represent the sky and the ocean. Allthough there are also some who claim it refers to Divinity.

Since there are different interpretations of what the flag symbolize, we will refer to one source in particular. The statesman Sarvepalli Radhakrishnan. He was the first vice president of India, and later become the president from 1962 to 1967. He had this interpretation of the Indian flag:
The saffron colour denotes renunciation or disinterestedness. Our leaders must be indifferent to material gains and dedicate themselves to their work. The white in the centre is light, the path of truth to guide our conduct. The green shows our relation to the soil, our relation to the plant life here, on which all other life depends. The "Ashoka Chakra" in the centre of the white is the wheel of the law of dharma. Truth or virtue ought to be the controlling principle of those who work under this flag. The wheel denotes motion. There is death in stagnation. There is life in movement. India should no more resist change, it must move and go forward. The wheel represents the dynamism of a peaceful change.

Three things worth noting about the flag.
The national flag of India was adopted in its present form during the meeting of Constituent Assembly held on the twentysecond of July in 1947, a few weeks before India's independence from the British on August fifteenth in 1947.

According to the Bureau of Indian Standards, there are strict regulations to what cloth the flag can be made of. By law, the flag is to be made of khadi, a special type of hand-spun cloth or silk.

The Ashoka Chakra symbol is a prominent Buddhist symbol, that is associated and named after Ashoka, an ancient Indian emperor, that lived about 2300 years ago.