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Captain Alastair Cook said England were "devastated" by their five-run Champions Trophy final defeat by India.

Chasing only 130 in 20 overs, England looked well placed on 110-4, but losing four wickets for three runs eventually left them short on 124-8.

"From that position, you back yourself to win more times than you lose," said Cook. "It's a tough pill to swallow.

"We're devastated, but we'll move on and try to get better."

After rain delayed play at Edgbaston for almost six hours and reduced the game to 20 overs per side, Cook's men restricted India to 129-7 with a controlled performance in the field.

England's chase then wobbled to 46-4, including the dismissal of Ian Bell, who was controversially given out stumped, by third umpire Bruce Oxenford, despite replays suggesting there was sufficient doubt for the batsman to be reprieved.

"I thought it was a poor decision," added 28-year-old Cook. "Maybe he saw a different angle than we did, but it looked pretty clear that he [Bell] was in."

From there though, England rallied, with Eoin Morgan and Ravi Bopara sharing 64 for the fifth wicket.

However, with the hosts needing only 20 from 16 deliveries, Morgan miscued Ishant Sharma to mid-wicket and Bopara fell to the same bowler from the next delivery, sparking England's collapse.

"It shows how quickly games can change in 20-overs cricket," said Essex left-hander Cook. "New guys coming in will always find it difficult to hit those runs."

England have faced criticism throughout the tournament, with some suggesting that their tactics have been too rigid, while former captain Bob Willis even accused them of ball-tampering.

However, Cook said he was proud of the way his team had performed, despite failing to end their wait for a global 50-over international trophy.

"We've been under a fair bit of pressure in this tournament," said Cook, who took over as England one-day captain in 2011, with leadership of the Test team coming the following year.

"Quite a lot of criticism and flak have been thrown our way and yet we got to the final. We've played some good cricket and I'm proud of the way the lads have fought.

"I think this is my lowest moment as England captain. It's a tough place, but when the emotion has gone we'll analyse this and look to build towards the 2015 World Cup."

For India captain Mahendra Dhoni, he adds the Champions Trophy to the 2011 World Cup and 2007 World Twenty20 which were won under his leadership.

This success was built on a new generation of India players with Shikhar Dhawan and Ravindra Jadeja ending the tournament as leading runscorer and wicket-taker respectively.

"It was important that we have a look at some of these new guys and give them an opportunity," said wicketkeeper Dhoni, who also led his side to the top of the world Test rankings from 2009 to 2011.

"I never turn up on the field to achieve something as a captain. For me, winning the game is very important, and that is of utmost importance for us as a team.

"I feel that there are similarities to this win and the 2007 World T20. Both teams players that desperately wanted to do well."