Indian Child right activist Kailash Satyarthi and Pakistani child education activist Malala Yousafzai have won this year's Nobel Peace Prize.

The Nobel committee said, the Prize has been conferred on them for their struggle against the suppression of children and young people and for the right of education for all children.

The committee said, Mr Satyarthi, has maintained the tradition of Mahatma Gandhi and headed various forms of peaceful protests, focusing on the grave exploitation of children for financial gain.

Talking to media in New Delhi, Mr Satyarthi said, it is a great honour for all those children who are deprived of their childhood globally.

Dedicating the prestigious prize to 125 crore people of the country, he said, the honour is symbolic and its is a victory for those who are fighting against child labour across the globe.

Kailash Satyarthi has been a crusader for child rights. His organisation, Bachpan Bachao Andolan Bachpan has been leading the fight against child labour, as well as providing children with direct legal and advocacy work.

60-year old Satyarthi started his career as an electrical engineer, but gave it up to work for the rights of children. Satyarthi is the second Indian after Mother Teresa to be awarded the Nobel Peace Prize.

17-year old Malala Yousafzai, the Pakistani education campaigner was shot on a school bus in 2012 by a Taliban gunman.