I was finally able to figure out the issue.
I had to change some settings in mysql configuration my.ini
This article helped a lot
http://mathiasbynens.be/notes/mysql-utf8mb4#character-sets
First i changed the character set in my.ini to utf8mb4
Next i ran the following commands in mysql client
SET NAMES utf8mb4;
ALTER DATABASE dreams_twitter CHARACTER SET = utf8mb4 COLLATE = utf8mb4_general_ci;
Use the following command to check that the changes are made
SHOW VARIABLES WHERE Variable_name LIKE 'character\_set\_%' OR Variable_name LIKE 'collation%';