The post India, Canada strengthen AI, tech ties as relations reset appeared on BitcoinEthereumNews.com. Homepage > News > Business > India, Canada strengthen AI, tech ties as relations reset India and Canada have introduced a renewed roadmap to bring stability, rebuild trust, and reinvigorate their bilateral relationship following a period of diplomatic strain. Both countries recently committed to strengthening cooperation in science and technology, particularly in artificial intelligence (AI) and digital public infrastructure (DPI). Key early steps will include reinstating the India-Canada Joint Science and Technology Cooperation Committee (JSTCC), fostering partnerships that broaden access to AI, encouraging Canadian AI firms and researchers to engage with India’s upcoming AI Impact Summit, scheduled for February 2026, and identifying opportunities for collaboration on digital public infrastructure. Anita Anand, the Minister of Foreign Affairs of Canada, was in India recently at the invitation of the Indian Minister for External Affairs, S. Jaishankar. “In keeping with the priorities that the Prime Ministers of India and Canada had set out for bringing momentum to the relationship, both sides, based on mutual respect for shared democratic values, the rule of law, and a commitment to upholding the principles of sovereignty and territorial integrity, reached consensus on a new roadmap for Canada-India relations,” according to a joint statement. “The ministers recognized that in the context of ongoing global economic uncertainty and rising geopolitical tensions, a strong and resilient Canada-India bilateral relationship is essential. Reviving this partnership will not only create opportunities for enhanced economic cooperation but also help mitigate vulnerabilities arising from shifting global alliances, ensure more reliable supply chains, and reinforce strategic stability in an increasingly complex international environment,” the ministers said. India and Canada have taken steps to reset their strained relations, nearly two years after tensions flared over Ottawa’s allegations that New Delhi was involved in the 2023 killing of Sikh separatist Hardeep Singh Nijjar in Canada. Prime Ministers… The post India, Canada strengthen AI, tech ties as relations reset appeared on BitcoinEthereumNews.com. Homepage > News > Business > India, Canada strengthen AI, tech ties as relations reset India and Canada have introduced a renewed roadmap to bring stability, rebuild trust, and reinvigorate their bilateral relationship following a period of diplomatic strain. Both countries recently committed to strengthening cooperation in science and technology, particularly in artificial intelligence (AI) and digital public infrastructure (DPI). Key early steps will include reinstating the India-Canada Joint Science and Technology Cooperation Committee (JSTCC), fostering partnerships that broaden access to AI, encouraging Canadian AI firms and researchers to engage with India’s upcoming AI Impact Summit, scheduled for February 2026, and identifying opportunities for collaboration on digital public infrastructure. Anita Anand, the Minister of Foreign Affairs of Canada, was in India recently at the invitation of the Indian Minister for External Affairs, S. Jaishankar. “In keeping with the priorities that the Prime Ministers of India and Canada had set out for bringing momentum to the relationship, both sides, based on mutual respect for shared democratic values, the rule of law, and a commitment to upholding the principles of sovereignty and territorial integrity, reached consensus on a new roadmap for Canada-India relations,” according to a joint statement. “The ministers recognized that in the context of ongoing global economic uncertainty and rising geopolitical tensions, a strong and resilient Canada-India bilateral relationship is essential. Reviving this partnership will not only create opportunities for enhanced economic cooperation but also help mitigate vulnerabilities arising from shifting global alliances, ensure more reliable supply chains, and reinforce strategic stability in an increasingly complex international environment,” the ministers said. India and Canada have taken steps to reset their strained relations, nearly two years after tensions flared over Ottawa’s allegations that New Delhi was involved in the 2023 killing of Sikh separatist Hardeep Singh Nijjar in Canada. Prime Ministers…

India, Canada strengthen AI, tech ties as relations reset

2025/10/24 13:01

India and Canada have introduced a renewed roadmap to bring stability, rebuild trust, and reinvigorate their bilateral relationship following a period of diplomatic strain. Both countries recently committed to strengthening cooperation in science and technology, particularly in artificial intelligence (AI) and digital public infrastructure (DPI).

Key early steps will include reinstating the India-Canada Joint Science and Technology Cooperation Committee (JSTCC), fostering partnerships that broaden access to AI, encouraging Canadian AI firms and researchers to engage with India’s upcoming AI Impact Summit, scheduled for February 2026, and identifying opportunities for collaboration on digital public infrastructure.

Anita Anand, the Minister of Foreign Affairs of Canada, was in India recently at the invitation of the Indian Minister for External Affairs, S. Jaishankar.

“In keeping with the priorities that the Prime Ministers of India and Canada had set out for bringing momentum to the relationship, both sides, based on mutual respect for shared democratic values, the rule of law, and a commitment to upholding the principles of sovereignty and territorial integrity, reached consensus on a new roadmap for Canada-India relations,” according to a joint statement.

“The ministers recognized that in the context of ongoing global economic uncertainty and rising geopolitical tensions, a strong and resilient Canada-India bilateral relationship is essential. Reviving this partnership will not only create opportunities for enhanced economic cooperation but also help mitigate vulnerabilities arising from shifting global alliances, ensure more reliable supply chains, and reinforce strategic stability in an increasingly complex international environment,” the ministers said.

India and Canada have taken steps to reset their strained relations, nearly two years after tensions flared over Ottawa’s allegations that New Delhi was involved in the 2023 killing of Sikh separatist Hardeep Singh Nijjar in Canada. Prime Ministers Narendra Modi and Mark Carney, who assumed office in March, announced the decision to appoint new high commissioners during a meeting at the G7 summit in Canada. Both sides agreed to restore diplomatic services for citizens and businesses. The move follows a period marked by diplomatic expulsions, visa suspensions, and mutual accusations, which significantly damaged ties.

Since the reset, both countries have witnessed significant growth in bilateral trade, which rose to $23.66 billion in 2024, according to the joint statement. During Anand’s recent visit to India, they welcomed the increasing engagement of Indian and Canadian businesses in each other’s markets, recognizing the job creation and strong prospects for continued economic expansion.

“The main message that Canada is bringing to India is that we are here to elevate the relationship with India. We have a focus on domestic public security in Canada. At the same time, we are working to strengthen the economic relationship with India across various sectors. Those include AI, energy, agriculture and agri food, climate and environmental sustainability, as well as people-to-people and business-to-business ties,” Anand said during her latest India visit.

According to Jaishankar, India Canada bilateral relations have been steadily progressing in the last few months.

“We are working to restore and reinvigorate the mechanisms necessary to advance our partnership. We seek to derisk the international economy today by forging strong partnerships of growing range and depth,” Jaishankar said.

Stronger AI, DPI partnership

Both economies agreed to strengthen collaboration to drive innovation in science and technology, including AI and digital infrastructure, adding that they would develop mutually beneficial partnerships to expand access to AI. Both countries would also explore opportunities for cooperation in digital public infrastructure (DPI).

India’s DPI includes Unified Payments Interface (UPI), which already controls half of global real-time payments by volume, and Aadhaar, touted as the world’s largest biometric identification system. UPI’s global expansion is accelerating at an unprecedented pace and is already live in eight countries, including the United Arab Emirates, Singapore, Qatar, Bhutan, Nepal, Sri Lanka, France, and Mauritius, with Canada likely to be considered next.

Both countries also agreed to relaunch the JSTCC. The 7th India-Canada JSTCC meeting took place on May 19, 2022, in Ottawa, according to an official statement. The JSTCC meets to review ongoing collaboration between Canadian and Indian researchers and innovators, and set priorities for the next period in a variety of sectors, including health sciences and related technologies, clean technologies and environmental research, quantum and artificial intelligence.

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AI paradox

While India and Canada are collaborating on emerging technologies, focusing on job creation and improved economic cooperation, both countries have also voiced strong concerns about employment losses due to rapid AI adoption.

Canada’s chief data officer, Stephen Burt, reportedly said that integrating AI into government operations may result in some public sector job losses. At the same time, a recent poll reportedly suggests that half of Canadians now view AI as a threat, an increase from a similar survey two years ago.

In September 2024, Bank of Canada Governor Tiff Macklem pointed out that as AI becomes more established in the economy and its impacts more transformative, the technology could destroy more jobs than it creates. People who may lose their work to automation may struggle to find new employment opportunities, as AI reduces the volume of tasks requiring human input.

Elsewhere, OpenAI CEO Sam Altman reportedly said that customer service jobs would be among the first to be replaced by AI, given their repetitive and scripted nature, which AI can refine and automate. That prediction has already come true. In India, AI chatbots are reportedly replacing call center jobs traditionally held by recent graduates in customer support, tech assistance, and data entry roles.

A report by NITI Aayog, the central public policy think tank of the government, projects that AI could lead to the loss of up to two million jobs in India’s tech industry, which currently employs around 8 million people. However, it also forecasts the creation of nearly four million new roles over the next five years, driven by the emerging demands of an AI-driven economy.

“Sometimes we all feel that technology eventually generates more jobs than it displaces. That is true, but the keyword is—eventually. What happens between and eventually is critical, and that is where I think we need to create supporting institutions, enabling institutions to train them, to prepare them and academic curriculums have to change, workplace practices have to change,” V Anantha Nageswaran, India’s Chief Economic Advisor, said during a press conference.

In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data. Check out CoinGeek’s coverage on this emerging tech to learn more why Enterprise blockchain will be the backbone of AI.

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Watch: India is going to be the frontrunner in digitalization

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Source: https://coingeek.com/india-canada-strengthen-ai-tech-ties-as-relations-reset/

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Tether's value surges over 40-fold, with a $500 billion valuation hinting at both capital and narrative ambitions.

Tether's value surges over 40-fold, with a $500 billion valuation hinting at both capital and narrative ambitions.

By Nancy, PANews News that Tether is in talks to raise funds at a $500 billion valuation has propelled it to new heights. If the deal goes through, its valuation would leap to the highest of any global crypto company, rivaling even Silicon Valley unicorns like OpenAI and SpaceX. Tether, with its strong capital base, boasts profit levels that have driven its price-to-earnings ratio beyond the reach of both crypto and traditional institutions. Yet, its pursuit of a new round of capital injection at a high valuation serves not only as a powerful testament to its profitability but also as a means of shaping the market narrative through capital operations, building momentum for future business and market expansion. Net worth soared more than 40 times in a year, and well-known core investors are being evaluated. On September 24, Bloomberg reported that stablecoin giant Tether is planning to sell approximately 3% of its shares at a valuation of $15 billion to $20 billion. If the deal goes through, Tether's valuation could reach approximately $500 billion, making it one of the world's most valuable private companies and potentially setting a record for the largest single financing in the history of the crypto industry. By comparison, in November 2024, Cantor Fitzgerald, a prominent US financial services firm, acquired approximately 5% of Tether for $600 million, valuing the company at approximately $12 billion. This means Tether's value has increased more than 40-fold in less than a year. However, since Cantor Fitzgerald's former CEO, Howard Lutnick, is currently the US Secretary of Commerce, the deal was interpreted as a "friendship price" that could potentially garner more political support for Tether. Tether's rapid rise in value is largely due to its dominant market share, impressive profit margins, and solid financial position. According to Coingecko data, as of September 24th, USDT's market capitalization exceeded $172 billion, setting a new record and accounting for over 60% of the market share. Furthermore, Tether CEO Paolo Ardoino recently admitted that Tether's profit margin is as high as 99%. The second-quarter financial report further demonstrates Tether's robust financial position, with $162.5 billion in reserve assets exceeding $157.1 billion in liabilities. "Tether has about $5.5 billion in cash, Bitcoin and equity assets on its balance sheet. If calculated based on the approximately $173 billion USDT in circulation and a 4% compound yield, and if it raises funds at a valuation of $500 billion, it means that its enterprise value to annualized return (PE) multiple is about 68 times," Dragonfly investor Omar pointed out. Sources familiar with the matter revealed that the disclosed valuation represents the upper end of the target range, and the final transaction value could be significantly lower. Negotiations are at an early stage, and investment details are subject to change. The transaction involves the issuance of new shares, not the sale of shares by existing investors. Paolo Ardoino later confirmed that the company is actively evaluating the possibility of raising capital from a number of prominent core investors. Behind the high valuation of external financing, the focus is on business expansion and compliance layout Tether has always been known to be "rich." The stablecoin giant is expected to generate $13.7 billion in net profit in 2024, thanks to interest income from U.S. Treasury bonds and cash assets. For any technology or financial company, this profit level is more than enough to support continued expansion. However, Tether is now launching a highly valued external financing plan. This is not only a capital operation strategy, but also relates to business expansion and regulatory compliance. According to Paolo Ardoino, Tether plans to raise funds to expand the company's strategic scale in existing and new business lines (stablecoins, distribution coverage, artificial intelligence, commodity trading, energy, communications, and media) by several orders of magnitude. He disclosed in July this year that Tether has invested in over 120 companies to date, and this number is expected to grow significantly in the coming months and years, with a focus on key areas such as payment infrastructure, renewable energy, Bitcoin, agriculture, artificial intelligence, and tokenization. In other words, Tether is trying to transform passive income that depends on the interest rate environment into active growth in cross-industry investments. But pressure is mounting. With the increasing number of competitors and the Federal Reserve resuming its interest rate cut cycle, Tether's main source of profit faces downward risks. The company has previously emphasized that its external investments are entirely sourced from its own profits. A decline in earnings expectations would mean a shrinking pool of funds available for expansion. However, the injection of substantial financing would provide Tether with ample liquidity for its investment portfolio. What truly necessitates Tether's capital and resources is expansion into the US market. With the implementation of the US GENIUS Act, stablecoin issuance enters a new compliance framework. This presents both a challenge and an opportunity for Tether. This is especially true after competitor Circle's successful IPO and capital market recognition, with its valuation soaring to $30 billion, further magnifying Tether's compliance shortcomings. On the one hand, USDT has long been on the gray edge, walking on the edge of regulation. Tether has successfully attracted public attention through extremely small equity transactions and huge valuations, and has also used this to enhance the market narrative, thereby breaking the negative perception of the outside world and significantly enhancing its own influence. On the other hand, unlike Circle's IPO, Tether has chosen a different path to gain mainstream market acceptance. In September of this year, Tether announced that it would launch a US-native stablecoin, USAT, by the end of the year. Unlike the widely circulated USDT, USAT is designed specifically for businesses and institutions operating under US regulations. It is issued by Anchorage Digital, a licensed digital asset bank, and operates on Tether's global distribution network. This allows Tether to retain control over its core profits while meeting regulatory compliance requirements. The personnel arrangements also make this new card intriguing. USAT's CEO is Bo Hines (see also: 29-Year-Old Crypto Upstart Bo Hines: From White House Crypto Liaison to Rapid Assignment to Tether's US Stablecoin ). In August of this year, Tether appointed him as its Digital Asset and US Strategy Advisor, responsible for developing and executing Tether's US market development strategy and strengthening communication with policymakers. As previously reported by PANews, Hines previously served as the White House Digital Asset Policy Advisor, where he was responsible for promoting crypto policy and facilitating the passage of the GENIUS Act, a US stablecoin, and has accumulated extensive connections in the political and business circles. This provides USAT with an additional layer of protection when entering the US market. Cantor Fitzgerald, the advisor to this financing round, is also noteworthy. As one of the Federal Reserve's designated principal dealers, Cantor boasts extensive experience in investment banking and private equity, building close ties to Wall Street's political and business networks. Furthermore, Cantor is the primary custodian of Tether's reserve assets, providing firsthand insight into the latter's fund operations. For external investors, Cantor's involvement not only adds credibility to Tether's financing valuation but also provides added certainty for the launch of USAT in the US market.
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PANews2025/09/24 15:52