The present work is based on interdisciplinary approach for identifying the content and nature of the modernisation process occurred in Buddhism. The study rightly identifies the features of postmodernisation in the understanding of Ambedkar and Dalai Lama about Buddhism. The study touched the fringes of postmodern understanding of Buddhism, i.e., Dalit Buddhism or Adi Buddhism. The present study mainly deals with the contribution of Ambedkar and Dalai Lama XIV to modernize the Buddhist tradition.