Hindus, Jains and Sikhs are celebrating Diwali today. Diwali is known as “the Festival of Light” and is celebrated for various reasons.
For Hindus the festival celebrates the triumph of good over evil, knowledge over ignorance and also light over darkness. The actual legends that go with the festival are different, depending on what part of India it is from.
For Jains the significance is that, in 527 BCE, according to Svetambara tradition, Mahavira gave his last teachings and attained ultimate liberation.