New Delhi, Jan 27 (PTI) Danish Ambassador in New Delhi, Rasmus Abildgaard Kristensen, on Tuesday said the "historic, ambitious and commercially significant" free trade agreement (FTA) between India and the EU will strengthen economic and political ties between the two sides, at a time of rising geopolitical tensions.

In a post on X, he said it is the largest such deal ever concluded by either side.

India and the European Union on Tuesday sealed a landmark free trade agreement -- billed as the "mother of all deals" -- to create a market of two billion people, with Prime Minister Narendra Modi and the top EU leadership unveiling a transformative five-year agenda to largely leverage trade and defence in protecting the rules-based world order.

The announcement was made at the Hyderbad House here, after Modi hosted European Commission President Ursula von der Leyen Ursula von der Leyen and European Council President Antonio Costa for summit talks amid frosty ties with the US.

Both the European Commission and the European Council are headquartered in Brussels, the administrative centre of the EU.

The European Commission, in a post on X, said, "The EU and India concluded negotiations today for an ambitious, comprehensive free trade agreement. This is the largest trade agreement that both the EU and India have ever concluded." In the post, it shared an image of the iconic Taj Mahal, embossed with the flags of India and the EU.

The 27-nation bloc consists of France, Germany, Poland, Portugal, Greece, Finland, Austria, Belgium, Denmark, Italy, the Netherlands, Spain and Sweden, among other countries.

Ambassador of Denmark to India, Kristensen, posted on X, "Extremely pleased that the EU and India today concluded negotiations for a historic, ambitious and commercially significant free trade agreement (FTA)." "It is the largest such deal ever concluded by either side, and it 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 #EUIndia #EUIndiaTrade #FreeTradeAgreement," he said.

The EU, as a bloc, is India's largest trading partner in goods. For the financial year 2024-25, India's total trade in goods with the EU was worth about USD 136 billion, with exports around USD 76 billion and imports at USD 60 billion.

Modi, in a post on X, said, "Today is a day that will be remembered forever, marked indelibly in our shared history. European Council President António Costa and European Commission President Ursula von der Leyen and I are delighted to announce the conclusion of the historic India-EU Free Trade Agreement".

On Tuesday, he also posted on the FTA in several other languages used by the EU, saying that the conclusion of the India-EU free trade agreement marks a "significant milestone in our relations".

Kristensen shared a post by Modi in Danish, and said, "What an extremely cool move India's Prime Minister @narendramodi tweeting in the national languages of all 27 EU member states celebrating the historic FTA between EU and India announced today in New Delhi. Danish version Tusind tak #EUIndiaTrade #EUIndiaSummit #EUIndiaFTA". PTI KND RHL

India-EU free trade agreement to strengthen economic and political ties and create a two billion person market. A comprehensive free trade agreement between India and the European Union has been concluded to create a market of roughly two billion people and implement a five year agenda leveraging trade and defence to support a rules based international order. Described as the largest trade deal by either party, the agreement aims to deepen economic integration, expand market access through tariff and non tariff liberalisation, and reinforce commitments to economic openness amid geopolitical tensions.