New Delhi, Jan. 27 -- Prime Minister Narendra Modi and European Commission President Ursula von der Leyen announced the conclusion of the India-European Union Free Trade Agreement (India-EU FTA) at the 16th India-EU Summit on Tuesday, 27 January.

The India-EU FTA, described as the "mother of all deals" by both leaders, is the largest-ever deal concluded by both sides. "It (FTA) will strengthen economic and political ties between the world's second and fourth largest economies, at a time of rising geopolitical tensions and global economic challenges, highlighting their joint commitment to economic openness and rules-based trade," the official statement read.

With the announcement of the significant India-EU FTA, here are five key facts t...