April 24, 2025, Pahalgam:
In the aftermath of a deadly terrorist attack on April 22 in Pahalgam, Jammu and Kashmir, which claimed the lives of 26 innocent tourists, tremors are being felt not just in India but across borders. The assault, allegedly orchestrated by the Pakistan-backed terrorist group The Resistance Front (TRF), has sparked widespread condemnation and triggered a cascade of political, economic, and diplomatic consequences in South Asia and beyond.
Global and Domestic Outrage
The Pahalgam attack is one of the deadliest terror incidents since the 2019 Pulwama bombing. Victims were primarily domestic tourists. In the wake of the massacre, emotions are running high throughout India. Leaders from various sectors, including sports and entertainment, have expressed grief, with many pointing fingers directly at Pakistan for harboring and supporting terrorist networks.
Former Pakistani cricketer Danish Kaneria, now residing in the United States, openly condemned his home country’s alleged role. “If Pakistan has no role in the Pahalgam terrorist attack, then why has Prime Minister Shahbaz Sharif not yet reacted to it?” Kaneria asked on social media, sharply criticizing the government’s silence and military mobilization. Kaneria’s post has since gone viral, amplifying the growing chorus demanding accountability.
Pakistan Under Global Scrutiny
Pakistan’s silence and the sudden alert status of its military have fueled suspicions about its involvement. Intelligence reports suggest that the attackers received directions from Karachi, linking them to established terror outfits allegedly operating with state complicity.
Adding to Pakistan’s diplomatic isolation, US President Donald Trump publicly expressed support for India’s right to act against terrorism. The Taliban government of Afghanistan also issued a rare condemnation, stating that such attacks undermine regional peace. This unified global stance leaves Islamabad with fewer allies and deepens its geopolitical predicament.
Market Mayhem in Karachi
The Karachi Stock Exchange (KSE 100) experienced a sharp drop of over 1,200 points on April 23, closing at 117,226.15—a fall of 1.02% from the previous day. Experts attribute this plunge to dual shocks: the potential threat of retaliatory action from India and the International Monetary Fund (IMF) slashing Pakistan’s GDP growth projection from 3% to 2.6%.
This financial downturn comes after two days of gains, underlining the fragility of investor confidence amid political instability and economic uncertainty. Despite a year-to-date rise of 2,313 points, the sudden dip illustrates how external threats can quickly reverse positive trends in volatile markets like Pakistan’s.
Contrasting Fortunes: Indian Markets Rally
In stark contrast, Indian markets have surged. The Bombay Stock Exchange (BSE) Sensex crossed the 80,000 mark for the first time in four months, closing at 80,116.49, an increase of 520.90 points on Wednesday. The National Stock Exchange’s Nifty followed suit, rising 161.70 points to 24,328.95. This marks the seventh consecutive day of gains, buoyed by investor optimism and a sense of national unity in the face of adversity.
Driving the rally were IT and auto sector stocks, showing strong investor confidence in India’s economic resilience and stability. The bullish trend also reflects international support, especially from key allies like the United States, further reassuring markets.
International Diplomacy in Flux
US Vice President JD Vance, currently on a cultural tour of India, canceled his scheduled visit to Jaipur’s City Palace in a move interpreted as a gesture of solidarity with the Indian people. Although the rest of his trip, including a visit to the Taj Mahal, proceeded as planned, the cancellation highlights the gravity of the situation.
Vance, accompanied by his wife and three children, expressed sorrow over the attack and acknowledged its emotional and security implications. “The Taj Mahal is wonderful. It is a testament to true love, human genius, and a masterpiece of a great country like India,” he wrote in the visitors’ log. His words reinforced the strengthening US-India relationship, especially in the context of shared concerns about terrorism.
Global Spotlight on Hinduphobia
In a parallel development with symbolic and political weight, Scotland’s Parliament has introduced a proposal against Hinduphobia, recognizing discrimination faced by the Hindu community. Spearheaded by Alba Party MP Ash Regan and supported by multiple lawmakers, the motion references a detailed report by the Gandhian Peace Society documenting systemic anti-Hindu bias in Scotland.
The report lists incidents such as harassment at workplaces, vandalism of temples, and derogatory stereotypes. The Scottish resolution and similar legislative movements in the US state of Georgia represent a growing international acknowledgment of anti-Hindu prejudice.
The Pahalgam terror attack has set off a complex chain of events that stretches far beyond the borders of Jammu and Kashmir. It has shaken the foundations of regional diplomacy, impacted financial markets, and intensified global conversations about religious persecution and terrorism. As India mourns its dead and contemplates its next steps, the international community watches closely, with heightened stakes for peace, accountability, and justice in South Asia.
