mataha parataram naanyatkinchidasti dhananjaya |
mayi sarvamidam protam sootre maniganaa iva || 7 ||

Beyond me there is none other, not even a little. Like beads are pervaded by string, all this is in me.
mataha : my
parataram : beyond
na : no
anyat : none other
kinchit : even a little
asti : is
dhananjaya : O Dhananjaya
mayi : in me
sarvam : all
idam : this
protam : pervaded
sootre : on a string
maniganaaha : beads
iva : like
In this chapter, Shri Krishna urges us to see Ishvara as the ultimate cause of everything in this universe. To illustrate this point, he poetically portrayed Ishvara as the womb or the seed of everything, enabling us to develop the vision by which we can see Ishvara in everything. In this shloka, he makes us leap to a whole new level of vision by which we can not just see Ishvara in everything, but see everything in Ishvara.
Shri Krishna addresses Arjuna as the dhananjaya, the conquerer of wealth, and makes a bold statement. He says that other than Ishvara, there is nothing in this universe. This means Ishvara alone exists in the universe. Other than him, there is nothing else. Through a process that will be taken up in the next topic, we see this universe of names and forms instead of Ishvara.
The shloka provides a necklace as an illustration. This necklace comprises a string and a series of knots in the string, which appear as beads. So, if we were to view this necklace, we would register it as a string and beads. But our intellect would tell us that it is nothing but the string with some modifications in the form of beads.
Similarly, Shri Krishna says that Ishvara pervades the entire universe just like this string pervades the entire necklace. When we apply our intellect, the necklace and the beads disappear, as it were, and only the string remains. Each bead contains the string, but the string contains all the beads. In other words, the string is all-pervading. With the knowledge that Shri Krishna imparts in this chapter, we should strive for piercing through the world of names and forms and only seeing Ishvara.
Is there a practical advantage to viewing the world in this manner? If we can begin to develop this vision, then all our so-called problems with objects, people and situations will disappear, because we will realize that the ultimate cause of everything is Ishvara. If everything is Ishvara, there is no concept of any duality, including joy or sorrow. It is all Ishvara.
Shri Krishna understands that such a vision is hard to develop. Our vision is used to seeing the tangible and not the intangible. So in order to help us in this path, he gives us some pointers that will help us see his glories or vibhootis.