India Thwarts Pak Attacks, PM Meets Top Officials

(MENAFN- Live Mint) Sirens blared, explosions rang out and a blackout carpeted parts of Jammu city as India shot down missiles and drones fired from across the border on Thursday night, in an escalation of the conflict that began with the massacre in Pahalgam.

Pakistan targeted India's military stations in Jammu, Pathankot and Udhampur close to the international boundary in Jammu & Kashmir, but the threat was neutralized "with kinetic and non-kinetic means", the Integrated Defence Staff HQ said late night. No losses were reported.

ANI reported explosions in Jaisalmer in Rajasthan as India shot down drones from across the border.

Earlier in the day, India said it had targeted Pakistani air defence systems at multiple locations including Lahore on Thursday morning, after repelling overnight missile and drone attacks directed at parts Northern and Western India. Foreign secretary Vikram Misri said late on Thursday that the choice of de-escalation is with Pakistan as it had escalated the situation with the Pahalgam terror attack, and India merely responded with Operation Sindoor.

”Our approach is not to escalate the situation, we only responded to the April 22 Pahalgam terror attack,” he said. On de-escalation of the situation, Misri said, "Choice is with Pakistan.”

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Defence minister Rajnath told an all-party meeting that at least 100 hardcore terrorists and their associates were killed in the Indian strikes, PTI reported.

Prime Minister Narendra Modi met top officials to assess national preparedness and inter-ministerial coordination, even as Pakistan intensified shelling along the Line of Control, using mortars and heavy artillery in Kupwara, Baramulla, Uri, Poonch, Mendhar, and Rajouri sectors of Jammu and Kashmir.

The government has closed all schools and colleges in the border state of Punjab for the next 72 hours.

The government has also assembled a health emergency plan for Jammu and Kashmir, dispatching two portable hospitals to the affected areas of Poonch and Uri. These hospitals, can be deployed in 12 minutes to treat up to 200 patients each simultaneously.

"The Prime Minister called for continued alertness, institutional synergy, and clear communication as the nation navigates a sensitive period," an official statement said. "He reaffirmed the government's commitment to national security, operational preparedness, and citizen safety," the PMO statement said.

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The Centre has advised streaming platforms to discontinue web series, films, songs and podcasts from Pakistan, pointing to its links with several terrorist attacks in India including the Pahalgam massacre. The advisory referred to the IT Rules, 2021.

The stock market fell in the afternoon after the announcement of the previous night's attacks from Pakistan and the morning's counter-measures. The rupee fell the most since 6 February 2023, closing 89 paise lower at 85.72.

Thursday's military response was a calibrated one matching the domain and intensity of Pakistan's recent actions, defence ministry said in a separate statement. India has also ramped up security at critical infrastructure sites-including roads, ports, airports, and power plants- as hostilities with Pakistan escalated.

External affairs minister Jaishankar spoke to US secretary of state Rubio, underlining India's targeted and measured response, PTI reported. Rubio also spoke to Pakistan Prime Minister Shehbaz Sharif and stressed the need for India and Pakistan to work closely to de-escalate, Sharif's office said earlier.

Following Indian strikes deep inside Pakistani territory under Operation Sindoor, Pakistan claimed to have shot down 25 Indian drones allegedly intruding into its airspace, terming the incident a serious provocation.

Despite the potential risks of prolonged conflict, India's macroeconomic fundamentals remain strong.

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In a May 5 report, Moody's Ratings said that India's economy is well-positioned to withstand the fallout of escalating tensions, given its minimal economic ties with Pakistan.

"In a scenario of sustained escalation in localised tensions, we do not expect major disruptions to India's economic activity because it has minimal economic relations with Pakistan. However, higher defence spending would potentially weigh on India's fiscal strength and slow its fiscal consolidation," Moody's said in its report titled 'Sovereign – South Asia'.

The global ratings agency noted that India's economic fundamentals remain sound, supported by strong public investment and healthy private consumption.

"The government's immediate focus is to defuse political tensions with Pakistan. While an escalation could have short-term economic consequences, it won't derail India's long-term growth trajectory," said Bhanumurthy N.R., director, Madras School of Economics. He added, "In the event of an escalation, Pakistan's economy will be worse off."

Trading was halted on Pakistan's benchmark share index on Thursday after the index slumped 6.3% on news of the earlier Indian drone attacks, and closed down 5.9%, Reuters reported.

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India's economy remains resilient, despite recent moderation.

Earlier, Pakistan said it shot down five Indian aircraft on Wednesday, a report the Indian embassy in Beijing dismissed as "misinformation", news agency Reuters reported.

Pakistani retaliation "is increasingly becoming certain now," Pakistan's defence minister, Khawaja Muhammad Asif, told Reuters on Thursday, adding,“I will still refrain from saying it is 100%. But the situation has become very difficult. We have to respond.”

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