London, Feb 4 (Agencies): The UK-India trade and investment relationship has significant potential, given the synergies possible between the two countries, Tata Sons Chairman Ratan Tata has said.

"However, I feel our trade and investment relationship has significant unrealised potential given the synergies possible between the two countries -- such as what we could achieve by leveraging the technology and manufacturing capabilities in the UK, to serve the global market," Tata said speaking at the first meeting of the India-UK CEO Forum on Thursday at Number 10, Downing Street.

He said: "The UK has a special place in the hearts and minds of Indians and Indian  industry."

Tata, who is also the co-chair of the forum, said he hoped the UK-India CEO Forum "is able to help build trade and investment between the two countries to a level approaching its potential and we intend to look at a range of sectors and ideas on how this could be facilitated by government and industry from both countries, working together."

Bilateral trade between India and the UK amounted to over 11 billion pounds in 2009.

Last year, exports from the UK to India increased by 38 per cent vis-a-vis the previous year, while 17 per cent of India's exports to the EU went to the UK.

Companies such as the Tata Group, JCB, BAE, Standard Chartered and Wipro already operate in both the UK and India and are taking part in this initiative.

Addressing the forum, British Prime Minister David Cameron said: "I've always believed that the India-Britain relationship is strong, but could be much, much stronger."