🇨🇦 India-Canada relations hit rock bottom

Good morning. Victoria’s Secret fashion show returned yesterday after a 6-year hiatus.

On that note, happy Wednesday.

- Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🇨🇦 India-Canada relations hit rock bottom

• 🗞️ Bite-sized summaries

  • 📦️ Quick returns

  • 🔋 Google goes Nuclear

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Indian stock markets closed lower on Tuesday - investor sentiment was dampened by global economic uncertainties and the ongoing West Asia conflict. Despite volatility and mixed sector performance, realty and FMCG sectors showed resilience while metals and auto stocks struggled.

🌍️ International

• Wall Street's major indexes declined, driven by significant drops in the technology and energy sectors. The Nasdaq faced pressure from falling chip stocks, particularly Nvidia, amid concerns over demand and potential export restrictions. Additionally, oil prices fell due to weaker demand expectations, impacting energy stocks.

GEOPOLITICS

🇨🇦 India-Canada relations hit rock bottom

India-Canada relations have officially plunged to a new low, marked by the expulsion of diplomats from both sides, indicating an unprecedented low in their historically cordial relationship. This diplomatic crisis stems from Canadian Prime Minister Justin Trudeau's allegations of Indian involvement in the assassination of Hardeep Singh Nijjar, a Sikh separatist leader, on Canadian soil in June 2023.

The situation has escalated rapidly, with Canada accusing Indian agents of involvement in "homicides, extortion and violent acts" targeting pro-Khalistan supporters. India, in turn, has vehemently rejected these claims as "preposterous" and criticized Trudeau's government for playing "vote bank politics."

This conflict brings to the forefront the long-standing tension over Sikh separatism, an issue rooted in the bloody insurgency in India during the 1980s and early '90s. Canada, home to the largest Sikh diaspora outside of Punjab, has faced criticism from India for its perceived leniency towards pro-Khalistan groups within its borders.

The current crisis represents a significant departure from the previous efforts to improve bilateral relations. Under former Prime Minister Stephen Harper, Canada had made strides in moving past grievances related to Khalistan and nuclear proliferation, focusing instead on trade, education, and people-to-people links.

Experts like Michael Kugelman of the Wilson Center describe the current situation as "uncharted territory" for this troubled relationship. The public airing of serious allegations, withdrawal of top diplomats, and use of blistering language in diplomatic statements mark a new low in India-Canada relations.

Despite the current tensions, it's worth noting the deep-rooted connections between the two nations. Canada hosts a significant Indian-origin community of 1.3 million residents, and India ranks as Canada's 10th largest trading partner. Moreover, India has been Canada's top source of international students since 2018.

The path forward remains uncertain. While people-to-people links may remain relatively stable, high-level bilateral relations are likely to suffer in the near term. With Canadian elections looming within a year, the Trudeau government's handling of this crisis could have significant political implications.

As this diplomatic standoff unfolds, the international community watches closely. The resolution of this crisis will require careful diplomacy and a willingness from both sides to address the underlying issues that have led to this unprecedented rupture in relations.

Read more: BBC

GENERAL OVERVIEW

🗞️ Bite-sized summaries

📦️ Quick returns - Blinkit, Zomato’s quick-commerce platform, has introduced 10-minute returns for footwear and apparel, addressing common size and fit concerns. Initially tested in Delhi NCR, the service is now available in Mumbai, Bangalore, Hyderabad, and Pune, with plans for further expansion. CEO Albinder Dhindsa highlighted that this feature helps alleviate "size anxiety" in fashion shopping. Blinkit, along with competitors Swiggy Instamart and Zepto, recently expanded into the fashion category, offering brands like Adidas and FabIndia. The quick return option aims to tackle the 25-30% return rate in online fashion, where customers often exchange items due to size issues.

🔋 Google goes Nuclear - Google has partnered with nuclear startup Kairos Power to power its AI data centres using small nuclear reactors. The first reactor is set to come online by 2030, with additional reactors planned by 2035. This move aligns with Google's goal to meet the massive energy demands of AI technology cleanly and reliably. Nuclear power, which emits no carbon and operates continuously, is becoming more appealing to tech companies like Google, Amazon, and Microsoft as they seek to reduce emissions while addressing the growing energy consumption of data centres. Kairos Power's reactors use molten fluoride salt as a coolant, an innovation in nuclear technology.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• Mamaearth's chief product and technology officer Jayant Chauhan quits.

• Priyanka Gandhi Vadra to contest from Wayanad Parliamentary constituency, in the by-election to Lok Sabha.

• 'Miss you, says i-pill': Bengaluru gets Zepto notification, company issues apology following backlash.

• US gives Israel 30 days to boost aid to Gaza or risk some military aid cuts.

• "We can create next-gen innovative products", says Boeing India President Salil Gupte as he urges the company to embrace quality.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Citadel: Honey Bunny trailer: Varun Dhawan, Samantha Ruth Prabhu and The Death Trap.

• Ashalata Devi to become first Indian woman footballer to play 100 international matches.

• Odisha’s Aahan, 14, comes of ages with National Tennis Junior titles.