Dear Dr Das: For that is the only way Fermions can exist:
The Pauli exclusion principle is the quantum mechanical principle which states that two or more identical fermions (particles with half-integer spin) cannot occupy the same quantum state within a quantum system simultaneously. The Pauli exclusion principle says that two fermions can't occupy the same place at the same time in the same way. Electrons are fermions and light is made of bosons (photons). Photons can exist in the same place at the same time without changing the properties of the other photons. They overlap. For more depth have a look at the following link:
Actually the exclusion principle is the outcome of the theoretical model which explains certain things related to that kind of half integral spin particles. No one exactly know whether such quantum states and quantum number really exits or not. But the theoretical model is the best. You can also explain this in alternative ways but that principle must be as correct as that of Pauli Exclusion Principle
Dear, Nityananda Das. As I see, there exist two types of particles in Nature with different statistics.
The spin is the model parameter, allowing the suitable mathematical description of these two statistics. Your question, in my opinion, is of the same generality as
such one: Why particle dynamics is described by wave functions?
For have to step deeper, declaring some more general postulates, such that the present ones can be obtained as conclusions.