Heat the canola oil, in a large nonstick skillet over medium heat, until shimmering.
Add the onions, garlic, ginger and carrots, if using, and season with salt and pepper, to taste. Saute until onions are softened and slightly brown around the edges, about 5 minutes.
Add the turmeric, garam masala and paprika, quickly stirring for about 20 seconds to keep the spices from burning. Stir in the tomatoes and ketchup, and taste for seasoning; add more salt and pepper, if needed.
Add hot dog rounds, stirring to cover them with the tomato mixture. Add 1/4 cup water if the mixture is too dry. Cover and simmer over medium-low heat 15 minutes.
Taste and season accordingly. Remove from heat, stir in cilantro and transfer the mixture to a serving bowl. Serve!