अर्जुन
In plain words
Arjuna said: Rightly, Hrishikesha, the world rejoices and is drawn to Your praise; terrified rakshasas flee in all directions, and all the hosts of siddhas bow to You.
Word for word
Fittingly, O Hṛṣīkeśa, by the praise of You the world rejoices and is drawn in love; the rākṣasas, afraid, flee to the quarters, and all the hosts of siddhas bow down.
The commentators
Bhagavadgītābhāṣyam· bhāṣya
स्थाने युक्तम् । किं तत् ? तव प्रकीर्त्या त्वन्माहात्म्यकीर्तनेन श्रुतेन, हे हृषीकेश, यत् जगत् प्रहृष्यति प्रहर्षम् उपैति, तत् स्थाने युक्तम् , इत्यर्थः । अथवा विषयविशेषणं स्थाने इति । युक्तः हर्षादिविषयः भगवान् , यतः ईश्वरः सर्वात्मा सर्वभूतसुहृच्च इति । तथा अनुरज्यते अनुरागं च उपैति ; तच्च विषये इति व्याख्येयम् । किञ्च, रक्षांसि भीतानि भयाविष्टानि दिशः द्रवन्ति गच्छन्ति ; तच्च स्थाने विषये । सर्वे नमस्यन्ति नमस्कुर्वन्ति च सिद्धसङ्घाः सिद्धानां समुदायाः कपिलादीनाम् , तच्च स्थाने ॥ ३६ ॥
In plain words
'Fitting' — yes, exactly as it should be. Fitting how? Because hearing your greatness proclaimed, the whole world breaks into joy — and that is entirely fitting, Hṛṣīkeśa. Or, taken another way: you yourself are the one truly fitting object of such joy, since you are the Lord, the very Self within every being, the friend of all. In the same way, the world falls in love with you — and that too is fitting. The demons, terrified, scatter in every direction — fitting, too. And every gathered assembly of the perfected sages, Kapila and the rest among them, bows down before you — and that, no less, is exactly as it should be.
Close to the Sanskrit
Fitting — appropriate. What is that? By your proclaimed fame, by the celebration of your greatness, heard, O Hṛṣīkeśa, that the world rejoices, attains delight — that is fitting, appropriate; such is the meaning. Or, sthāne is a qualifier of the object: the Lord is the fitting object of joy and the rest, because he is the Lord, the Self of all, and the friend of all beings, thus. Likewise, it becomes attached with love and attains affection; that too, regarding the object, is to be explained the same way. Moreover, the demons, frightened, possessed by fear, flee in all directions, go away; that too is fitting, regarding the object. All the assemblies of Siddhas — the gatherings of Siddhas headed by Kapila — bow, pay homage; that too is fitting.