Except that EK does not bring NEW passengers to Canada. All those people and their relatives will fly regardless. The only difference is that instead of Mumbai-DXB-YYZ they will fly Mumbai-FRA-YYZ etc. If the come from one of the smaller centres they may have an extra stop above what EK would offer them.
Air Canada does not need protecting--EK wants to eat away at the income that other airlines currently have to the detriment of the Canadian economy.
The claim that they bring money into the economy - at least at the levels they claim - is plain false. It is just a redistribution of the money.