The new campus will bring all departments and research activities of the Institute, founded by celebrated scientist Acharya Jagadish Chandra Bose, under one roof.
The unified campus of the Institute is likely to be fully operational within next two years, Institute sources said.
The Prime minister left the venue shortly after laying the foundation without making any speech.
West Bengal Governor M K Narayan, state's Commerce and Industries Minister Partha Chatterjee, Finance Minister Amit Mitra and Panchayat Minister Subrata Mukherjee were present at the brief function.
Union Science and Technology Minister Vilas Rao Deshmukh was also present.