SRINAGAR, India: On Friday (Apr 25), India’s army chief plans to assess security measures and visit the location of a recent deadly attack on tourists in Indian Kashmir. This situation has raised concerns over potential renewed tensions with Pakistan, which is unsettling the markets.
India has claimed that elements from Pakistan were involved in the assault on Tuesday, where militants shot 26 individuals in a field in the Pahalgam area. However, Pakistan has rejected these allegations.
These nuclear-capable nations have rolled out several retaliatory actions against each other. India has put a vital water-sharing agreement on hold, while Pakistan has restricted its airspace to Indian flights, among other measures.
General Upendra Dwivedi, the army chief of India, is expected to visit Kashmir on Friday to evaluate security precautions and is likely to go to the scene of the attack, as indicated by an army source. This visit comes a day after Prime Minister Narendra Modi promised to pursue the attackers relentlessly.
Indian stock markets dropped on Friday, with major indices declining by about 1 percent. The rupee also weakened, and the yield on 10-year government bonds increased by 4 basis points.
India’s leading airlines, IndiGo and Air India, announced that some of their international flights, particularly those to the US and Europe, would be impacted by the closure of Pakistani airspace, resulting in longer flight times and some detours.
