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NEW DELHI, Sept. 28 (Xinhua) -- The third edition of "Chindia TMT (technology media telecom) Dialogue" was held here on Friday, with 89 business leaders and experts from India and China discussing the opportunities and challenges of the internet market.

Amitabh Kant, CEO of the National Institute for Transforming India (NITI Aayog) said that India's startup ecosystem consists of thousands of startups in different sectors.

Inviting Indian and Chinese businessmen to come together, he said that cross-border synergies will bring size and scale solution, and that the e-commerce market in India will be huge in the coming years.

The dialogue will bring leading entrepreneur of the two countries together. It will help explore ideas and area of collaborations that will converge inurement of mutual interest, said Kant.

According to him, at present there were nearly 4,400 technological startups in India, and the number would reach 12,000 by 2020.

He stressed the need for more Chinese investment. "We have over 100 Chinese companies but still should increase. The Chinese companies should catch up in terms of investing more in India."

Commerce Counselor at the Chinese embassy Li Baijun said the "Chindia TMT Dialogue" had been organized successfully on two previous occasions, laying the foundation for communication and cooperation between India and China.

He said information technology via internet is changing lives and enhancing people's capabilities and transforming the world. Distance no longer prevents people from communicating and people are more connected to each other than ever before.

China and India are both huge countries in terms of internet usage, and there is huge potential for cooperation between the two, Li said.