What does the lotus symbolize in Padmapani's hand?

It symbolizes spiritual awakening and purity remaining untouched by the world's suffering, similar to a lotus rising clean from murky water.

Avalokitesvara as Padmapani: Mahayana Bodhisattva Guide (1997 PYQ)

ID: HIS_PHI_1997_33 Ref: Buddhist Iconography by B. Bhattacharya

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Avalokitesvara is also known as Padmapani, meaning 'Holder of the Lotus.' He is the Mahayana Bodhisattva of infinite compassion and mercy.