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This paper represents the hardware implementation of high speed DWT using details of 5/3 wavelet filters for image compression applications. Wavelets also find application in speech compression, which reduces transmission time in mobile applications. The main aim of this work was to show that great complexity reduction with excellent performance can be achieved by multiplier less implementation of DWT on FPGA using 5/3 wavelet filters. DWT performs multiresolution analysis which enables to have a scale-invariant interpretation of image. To optimize high speed and memory requirement, we propose novel VLSI architecture for 2D DWT using Conditional Carry Adder.