UPA chairperson Sonia Gandhi and West Bengal Governor M.K. Narayanan were also present on the occasion.
"To fulfil India's growing economic requirements our UPA government has given special attention to the education sector. It will be difficult to maintain the growth rate without this," said the Prime Minister.
"We have increased the share of education in GDP from 3.3 per cent to 4 per cent," he added.
"Under the initiative taken by the National Skill Development Council there was a mission to impart skills to five crore youths," Prime Minister informed.
"We want more youngsters to get world-class education so that India's scientists and engineers can earn its place in the world," he added.
To give further fillip to higher education, the prime minister said the government has introduced new central universities, IITs, IIMs and NIITs.
Prime Minister paid tribute to the former railway minister A.B.A. Ghani Khan Choudhury. Prime Minister said Choudhury had worked for the development of his area.
"The union government has given an aid of Rs. 26 crore to the institute, which will help education and employment in Malda and its neighbouring areas," said Manmohan Singh.
The institute will offer graduate, post-graduate and certificate courses in engineering and technology with special focus on food technology and sericulture.
"We want this to be counted as among the top engineering institutes of the country," the Prime Minister said and offered to help, if needed.