I has a number of translations but the most relevant one here is remarkably simple.
The spirit that is with in me greets and recognizes the spirit that is within you.
In it's translation then it is not just a word by a practice that occurs every time you meet someone.
When you are awake it is impossible not to do this
My soul salutes your soul...
My heart loves your heart
My Awareness sees your awareness and sees the lack of separation between the two.
Two waves looking for water...
Seeing they are part of an ocean...
Nameste