Volume 18                Issue #08         August 2024

Creating a Conscious Planet

Hello friends,

As we enjoy this beautiful season in Canada—a time when many of us choose to stay and relish the glorious weather and nature's full bloom—I’m reminded of the joy that comes from our connection with the world around us. This time of the year often brings us together in celebration, whether through outdoor gatherings or events like the recent charity golf tournament organized by Canada India Foundation. I’m thrilled to share that this event was a resounding success, raising vital funds for the families of fallen soldiers in Canada and India, as well as frontline workers here in Canada. This spirit of generosity and unity is something we should all strive to embody.

However, when we look beyond our immediate surroundings, the picture isn't always so bright. Across the globe, we see conflict, violence, religious strife, and an alarming spread of hatred between communities. The recent tragic events in Bangladesh, that saw targeted violence against minorities, have shocked the conscience of the world, remind us of the brutal history of the region. The current turmoil in Bangladesh serves as a stark reminder that peace is fragile and must be vigilantly protected.

As global citizens, it is our responsibility to stand against such injustices and raise our voices for the common good of humanity. While external influences may play a role in these crises, the core message is clear: every nation must remain vigilant in preserving peace and fostering unity.

Each month, as I prepare my message, I strive to offer more than just information. My goal is to inspire reflection and action. We live in an age of unparalleled prosperity and technological advancement, yet the world is rife with misery and geopolitical chaos. Why is this? Despite our hard work and the abundance of opportunities, many of us feel unfulfilled, distracted by issues that seem insignificant in the grander scheme of things. Governments invest heavily in social development, yet we do not see the emergence of a truly wise and conscious global citizenry.

Perhaps, it is time to revisit the universal values championed by the ancient sages of India. These values, which transcend any specific religion or culture, offer profound guidance for creating a harmonious society. The dharma tradition emphasizes living virtuously, embracing qualities such as honesty, compassion, patience, generosity, and self-restraint. As articulated in teachings provided to students of Sanatana Dharma in California: “Sanatan means eternal, ever-present, universal, and unceasing; Dharma is harmony, compassion, truth, or natural law. Sanatan Dharma means eternal path, never beginning or ending. Sanatan Dharma places spiritual experiences above religious issues and cultural practices.”

A particularly relevant teaching for today’s world is this: “This is the sum of duty: Do not unto others that which would cause you pain if done to you” (Mahabharata 5, 1517). These words, though ancient, offer timeless wisdom for uniting the citizens of the world. (Read more)

Toronto, August 16, 2024: Canada India Foundation in partnership with ICICI Bank Canada held a reception to mark and celebrate India’s 78^th Independence Day in Toronto on August 16, 2024. The event was held at the brand-new offices of ICICI Bank located in the heart of prestigious Bay Street. Vikash Sharma, President and CEO of ICICI Bank Canada welcomed the guests. Ritesh Malik, Chair, CIF noted that it is an encouraging sign to see the head office of a major Indian bank situated in Toronto’s financial district. “Congratulations to Vikash Sharma and the entire ICICI Canada Bank team,” he said.

Complimenting CIF for its work in the bilateral space, India’s Consul General in Toronto, Siddhartha Nath, said, “CIF has continuously punched above its weight when it comes to building the India Canada relationship. Your efforts exemplify the potential of this corridor, and you have been helping advance India in Canada and Canada in India. The energy and enthusiasm we see in this corridor is tremendous. My congratulations to the Indo Canadian community for the great work you are doing and continue building the bridges between our people.”

The event, emceed by Sunita Vyas, National Convener, CIF was attended by prominent figures from business and professional fields. 

Toronto: Canada India Foundation launched its Thought Leadership Series 2024 by a comprehensive presentation on the state of the Canadian economy by Jean-François Perrault - Senior Vice-President & Chief Economist, Scotiabank. Speaking on the initiative, Ritesh Malik, Chair, CIF, said: “Through this initiative, we hope to welcome some of the most important thinkers and policy makers to the CIF platform. They may come from different disciplines, economic, political, community, academic. But one thing is for sure. These expert commentators will bring us insights and wisdom and help us to learn and plan our individual life goals.”

Perrault tackled the theme of Opportunities in Canada: Current Landscape with a detailed presentation that covered the Canadian as well as the developments South of the Border. He was upbeat on the Canadian economy observing that many factors are contributing to choose optimism over pessimism. Inflation is coming down and interest rates are gradually being cut. Noting the dramatic increase in immigrant arrivals in the past few years, he sees it as a net benefit while it does offer its own challenges. “This increased population is key to the resilience we see in the Canadian economy.”

Perrault also predicted a healthy housing market as “Because the population has exploded, our volumes are going up. There is not going to be any meaningful drop in the house prices.” While he discounted any major departure arising from political changes in Canada, he cautioned against uncertainty due to the upcoming elections in the US.

A question-and-answer session followed the presentation during which CIF members and guests sought directions on many aspects of the Canadian economy. Top managers of the Scotia Wealth Management arm were present on the occasion, including Alex Besharat, Executive Vice President, Scotia Wealth Management.

Brampton, August 7, 2024: The 9th Annual CIF Charity Golf tournament held at the Lionhead Golf Club and Convention Centre on August 7, 2024, was a testament to the community’s commitment to the brave men and women of the armed forces of Canada and India. This year, the sold-out event set yet another record in contributions, making it possible for the CIF Charity Foundation to donate generously to the designated organizations. The funds raised on the day are exclusively earmarked to support the families of fallen soldiers and frontline workers.



Speaking at the event, Anil Shah, the Chief Inspiration Officer and main driver behind the event for the past nine years, profusely thanked the participants and sponsors for opening their hearts and purses to aid the cause. “You will be happy to know, this year, we have set a new record in fundraising by becoming the most successful tournament since we began. I am really excited for the future. With your help, we will be able to reach out to even more areas where we can make a difference.” (Read more)

Canada should have a stronger and deeper relationship with India from strategic and self-interested perspectives. Other leading economies such as the U.S. and the EU have courted trade and investment with India because they see it as both a strong hedge against China’s regional dominance and a partner in technology, security and commerce. (Read More)

(Originally published in the Policy Options Magazine on August 8, 2024)

The tight hug between India’s Prime Minister Modi and Russian President Vladimar Putin earned worldwide attention. The response was divided between those who hated Putin and those who loved him. But now the great communicator, S. Jaishankar himself, is giving a fitting explanation of the hug that bugged the West. (Read more.)

Indian businesses are scaling up at an astonishing rate. A recent announcement from the Aditya Birla Group, is indicative of the future trajectory of big Indian conglomerates. UltraTech, a cement manufacturer, unveiled plans to boost annual production to 200 million tonnes which is equivalent to one and a half times the entire cement production of the US. (Read more.)

A report produced by 3one4 Capital and the Startup Vision Group indicate that Delhi, Mumbai, and Bengaluru will be among top performers in Asia in GDP growth. Bengaluru is expected to lead that trend with 8.5% annual growth till 2035. Bengaluru is already a hot destination for both domestic and foreign investors with over $70 billion raised by city-based startups since 2010. (Read more.)

Sandeep Goel

Managing Director, Scotiabank

Sandeep Goel has over 25 years’ experience across financial services industry & is currently Managing Director for Cross Cultural Segments within Global Family Office Group at Scotiabank. Sandeep is responsible for relationship development with South Asian ultrahigh net worth...(Read More)

Amit Brahme

Managing Director, Scotiabank

Amit Brahme serves as the Managing Director of Strategic Cultural Segments at Scotia Wealth Management. As an immigrant with over 25 years of experience spanning banking, technology, manufacturing, and education, he brings a wealth of professional insight...(Read more)

Nitin Jain

President & CEO, Sienna Senior Living

Nitin Jain is the President and Chief Executive Officer of Sienna Senior Living where he is guided by his conviction that it is a tremendous privilege and responsibility to serve Canada’s seniors. With over 90 high quality assets and presence in Ontario, British Columbia, Saskatchewan and Alberta.. (Read More)

Arjun Chhabra

President, Titan Global Consulting

Arjun Chhabra is President, Titan Global Consulting, Canada & Japan. Titan Global Consulting is a leading Business Consulting firm providing IT consulting, Estate Planning and Insurance Services, Business Payroll services and International Trade. (Read More)

Chetan Handa

Co-convener

chetanhnd@gmail.com