In modern times, Laughing Buddha (Maitreya) of Chinese Buddhism was introduced into India along with the increasingly close exchanges between China and India, which formed a universal "New Maitreya Belief". The New Maitreya Belief of Contemporary India contains the elements of Chinese folk culture, especially the FengShui culture. Chinese FengShui is regarded as an environmental science by Indians who believe that the image of Laughing Buddha plays an auspicious role in changing FengShui. So it has been widely circulated in India. It is illuminating to explore the Chinese folk cultural elements in the New Maitreya Belief, with regards to the spread of Chinese culture abroad, the development of Sino-Indian friendship as well as peaceful world religions exchanges.