"It gives me immense pleasure to know that the Nobel Peace Prize for 2014 has been given to Kailash Sathyarthi, who has worked for children's rights for over 30 years. This day is a victory day for children, who are our future pillars," he said in a statement.
Terming the activists' work as "commendable and praiseworthy," he said many countries have acknowledged Sathyarthi's work with high rewards.
"Conferring of Nobel Prize for Peace on him brings pride to India.
60-year-old Satyarthi who runs - 'Bachpan Bachao Andolan' -- an NGO that has been at the forefront of rescuing children from forced labour and trafficking and 17-year-old Malala, who shot into limelight after Taliban militants pumped bullets into her for advocating education for girls, were named by the Nobel Peace Prize Committee for the top global award this year.