It is the traditional Indian greeting.
please refer here to read more...
According to the Indologist Stephen Phillips, the terms "te and tvam" are an informal, familiar form of "you" in Sanskrit, and it is typically not used for unfamiliar adults. It is reserved for someone familiar, intimate, divine or a child.[16][17] By using the dative form of tvam in the greeting Namas-te, there is an embedded secondary, metaphorical sense in the word. This is the basis of the pragmatic meaning of Namas-te, that is
"salutations to the (divine) child (in your heart)", states Phillips.[16]
There are other popular meanings like - The divine within me bows to divine within you.
Here is an image reference. Please try to make it look modern and cooler.
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L