India's quick-service restaurant (QSR) industry is showing early signs of demand recovery, but Macquarie highlights rising costs and intensifying competition from food-delivery aggregators as reasons for its cautiousness. According to Macquarie, post-fourth-quarter trends indicate a gradual improvement in dine-in demand across restaurant chains. Within the sector, Macquarie remains most constructive on franchise operators Devyani International, Sapphire Foods and Westlife Foodworld. However, the recovery remains uneven and is being overshadowed by inflationary pressures and the growing dominance of delivery platforms such as Zomato and Swiggy. The brokerage said same-store sales growth across the listed QSR universe is tracking broadly in line with or slightly ahead of fourth-quarter levels. However, restaurant brands continue to trail delivery aggregators in growth, highlighting a structural shift in consumer behaviour. To counter this trend, restaurant operators have increa...
Canada's latest steps to curb migration is likely to have an adverse effect on tens of thousands of foreign students, including those from India. It will also negatively impact those who apply for work and resident permits.
These new rules have come into effect from the beginning of February and give unhindered powers to Canadian border officials to alter the visa status of students, workers, and migrants at any time should they deem such action necessary.
Under the new Immigration and Refugee Protection Regulations, Canadian border personnel are now vested with the powers to deny or reject temporary resident documents such as electronic travel authorisations or eTAs and temporary resident visas or TRVs.
This means that border officials can now cancel such documents, which include work permits and student visas. However, there are some guidelines which need to be met in order for them to reject permits and visas. This includes one which states that if an officer is not convinced that the individual will leave Canada upon the expiration of their authorised stay, they can reject their entry or cancel their permit even during their stay in Canada.
The discretionary powers to make such judgement is entirely vested upon the officer.
These new rules and regulations have a scope of uncertainty, and will potentially impact tens of thousands, if not hundreds of thousands of international students and workers - of which Indians are the largest group of foreign nationals in either category.
Canada is among the most preferred destination for Indian students, workers, and legal migrants. Students alone, currently pursuing their higher education in Canada, account for more than 4.2 lakh Indian nationals as per government data.
Should a student, worker, or migrant get rejected, they will be stopped at the port of entry and sent back to their home country. In case a permit is cancelled while such a person is already studying, working, or residing in Canada, they will be served a notice to leave the country by a specified date.
Besides these categories, Canada also sees a massive inflow of tourists from India - all of whom also have temporary permits of different duration of stay. In the first six months of 2024, Canada issued travel visas to more than 3.6 lakh Indians. In 2023 too, Indians accounted for 3.4 lakh tourists in the first six months of the year as per data released by the Canadian authorities.
Those who will be impacted shall receive a notification by the Immigration, Refugees and Citizenship Canada via email as well as their IRCC account. There is no clarity regarding what will happen to the money invested or already paid by such persons - be it towards their education or loans, mortgages or rent paid by workers during their stay in case of a sudden cancellation.
Just three months earlier - in November 2024, Canada had closed down the Student Direct Stream or SDS visa program - a preferred route for Indian students who were willing to guarantee money upfront to be assured of their education in the North American country.
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