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Is it possible for me to take both visas together in India?
This is certainly possible, but at the moment (March 2016) China is the only country where both UK and Schengen applications can be generated from a single form. All other countries require the end-user to complete both applications separately. See Obtaining a UK and Schengen Visa in a Single Application or Single Step in China. It is unlikely that the pilot test will extend to India at least until 2020, if then.
For your Schengen application, please read
and for the UK...
As a general rule of thumb, you would complete the applications according to which locale you plan to visit first, but that's a suggestion only.
See also: Visiting both Schengen and the UK. Which visa should apply for first? related, but not answered yet.