The seminar by Deepak Rajput discusses polarization spectroscopy, a technique utilizing the polarization properties of light to measure molecular transitions. It explains the process involving weak and strong beams, the role of a linear polarizer, and the effects of saturation on molecular sublevels leading to birefringence. The concept allows for detecting molecular interactions without the need for a magnetic field by analyzing the rotation of the probe wave's polarization through an anisotropic sample.