from friends while celebrating New Year's Eve at a nightclub in Manchester city.
Souvik's body was found by specialist officers in Bridgewater Canal, near Manchester United's Old Trafford football ground, at 2pm (local time) on Tuesday.
Souvik had enrolled for product design course at Manchester Metropolitan University. He disappeared on a night out at the Warehouse Project in Trafford, Greater Manchester.
He was last seen at the event at about 11pm (local time) and was reported missing by a flatmate the following morning.
Souvik's father Santanu had travelled from his home in Bangalore to help with the search.
Souvik lived in Cavendish halls of residence on Cambridge Street.
A Greater Manchester Police spokesman said Souvik's family had been informed and officers were in regular contact with them.
Post-mortem tests on Souvik's body have proved inconclusive, police said.
Greater Manchester Police said further toxicology tests will be carried out to try to establish the cause of death, the BBC reported.
Police, which had pursued tracing Souvik, offered condolences to the family and extended their support.
"Our thoughts and condolences are with Souvik's family at this devastating time and our officers are doing all they can to support them," Detective Chief Inspector Colin Larkin said.
"We do not believe there are any suspicious circumstances surrounding Souvik's death and a file will be submitted to the coroner in due course," he said.
A number of appeals were made to trace Souvik, including the use of digital advertising hoardings at Manchester United's domestic Premier League of Football home game against Liverpool.
Souvik had trained for a part-time job serving refreshments at the stadium and worked at Manchester United's game against West Bromwich Albion on December 29.
His father Santanu told PTI, "according to police there is no involvement of any third party in the case. From outside they have not found any injury."
He said he is in touch with the Indian Consulate in Birmingham to finalise details to take the body to Bangalore for final rites.