The operation of the parachute is based on the simple principle of balancing two opposing forces. There are two forces that act on any falling object —gravity and air resistance.
While gravity pulls the object towards the earth, the air resistance tends to slow down the fall. Since air resistance is proportional to the surface area of the falling object, the large surface area of the canopy of a parachute offers large enough resistance to slow down the fall of an object to enable a smooth gentle landing on the ground.