The missile can carry a pay-load of 1 tonne, is 17 m long, 2 m wide and weighs 50 tonnes.
The maiden test-fire was witnessed by military officials, scientists and other agencies which participated in its development.
Agni-V has helped India gatecrash into a small and exclusive club of nations with intercontinental ballistic missile capability.
Agni-V and INS Chakra are the biggest and the most deadly symbol of Indias military might.
Agni-V will need to undergo several more trials before it can be formally inducted into India's arsenal.
After the missile is inducted into the strategic forces by 2014-2015, India will acquire a strong deterrent capacity against China.
The 17 m long, 2 m wide and 50 tonne Agni-V is a generation ahead of the other surface-to-surface missiles in India's inventory.
India on Thursday successfully test-fired the 5000-km range surface-to-surface Agni-V Inter-Continental Ballistic Missile (ICBM) capable of covering entire China and reaching deep into Europe.
Agni-V can cover entire China, Eastern Europe, North Eastern and Eastern Africa and even Australia if fired from the Nicobar Islands.
Only the permanent members of the UN Security Council - China, Russia, France, the United States and the United Kingdom - have such long distance missiles.
According to Defence Research and Development Organisation chief Dr VK Saraswat the Agni-V missile is among the best in its class in the world with its advanced ring-laser gyros, composite rocket motors and highly accurate micro-navigation systems.