UK and Indian business leaders have discussed the need for closer trade links between the two countries at a recent government-hosted summit.

The UK/India CEO Forum took place at Downing Street and saw prime minister David Cameron encourage company chairs and chief executives to identify the best ways to build new trade partnerships and investment opportunities between the countries.

Members identified a number of overarching themes as important areas of collaboration, including smart cities and the digital economy, the healthcare sector, education and skills, engineering, defence and security, and financial and professional services.

The aim is to simplify structures and processes, while providing clarity and transparency in decision-making, as well as uniformity and consistency in the treatment of businesses across borders.

Standard Life chairman Sir Gerry Grimstone said: "India is the third-largest investor in the UK, and the UK is the largest G20 investor in India. This forum will forge deeper collaboration in areas where there is scope to take relationship to the next levels."

There are 535 UK businesses employing 691,000 people in India, while around 800 Indian businesses employ 110,000 people in Britain.