Tensions between nuclear-armed neighbors India and Pakistan appear to be cooling, as both countries prepare for a crucial military dialogue on Monday.
The discussions between the director generals of military operations (DGMOs) aim to determine the next steps following a recently restored ceasefire along the Line of Control (LoC) — a major flashpoint in the disputed Himalayan region of Jammu and Kashmir.
After several days of intense cross-border shelling and diplomatic activity, the Indian Army reported that Sunday night was the first peaceful night in recent memory along the LoC. While some schools in the region remain closed as a precaution, there were no overnight reports of fresh shelling or missile activity.
The ceasefire, which began Saturday, brought welcome relief to both civilians and military personnel stationed near the tense border.
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The truce followed days of heightened hostilities that saw both sides exchange fire using missiles, drones, and artillery. The violence escalated after India blamed Pakistan for orchestrating the deadly Pahalgam attack, which killed 26 tourists. Pakistan strongly denied the allegation and called for an independent investigation.
India’s military confirmed that a hotline message was sent to Pakistan on Sunday regarding earlier ceasefire violations. A top Indian Army official emphasized that New Delhi would respond if further violations occur. Pakistan’s military has denied any wrongdoing, insisting it abided by the terms of the ceasefire.
India’s Ministry of External Affairs announced that the DGMOs of both nations would hold direct talks on Monday at 12:00 p.m. IST (06:30 GMT), to further ease tensions and chart a path forward. Pakistan has not publicly confirmed the meeting, and there was no immediate response to media inquiries about its participation.
In response to what it described as provocations from Pakistan, India conducted air strikes on nine terrorist infrastructure sites in Pakistan and Pakistan-Occupied Kashmir (PoK) last Wednesday. Pakistan, in turn, claimed it had only targeted Indian military installations and denied involvement in the Pahalgam incident.
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The recent military skirmishes sent shockwaves through the financial markets. However, with news of the ceasefire and impending military dialogue, both countries’ equity markets rebounded on Monday. Pakistan’s benchmark index surged nearly 9%, prompting a temporary one-hour trading halt. The gains reversed most of the losses from the past three sessions.
Meanwhile, Indian markets also showed signs of recovery, with major benchmarks rising about 2.5% in early trade after dropping 1.5% in the previous three days.
Adding to Pakistan’s economic boost, the International Monetary Fund (IMF) late Friday approved a $1.4 billion loan as part of its climate resilience initiative. The IMF also completed the first review of Pakistan’s $7 billion bailout program, providing crucial financial relief amid ongoing uncertainty.
The United States played a significant role in brokering Saturday’s ceasefire, with former President Donald Trump publicly announcing the truce. Islamabad thanked Washington for its involvement and welcomed Trump’s offer to mediate the Kashmir dispute.
New Delhi, however, remained silent on US participation and reiterated its long-standing policy: that all bilateral issues with Pakistan, including Kashmir, must be resolved without third-party mediation.
Back home, India’s Congress party — which had supported Prime Minister Narendra Modi’s response to the April 22 attack — has now called for a special parliamentary session to address the evolving situation with Pakistan. The party emphasized the need for transparency and debate on national security policy amid the fragile ceasefire.
As India and Pakistan prepare for their military-level talks, the world watches closely. The hope is that this dialogue marks a turning point toward lasting peace and stability in the region. With calm returning to the border and markets recovering, the next steps taken by both nations will be critical in shaping the future of South Asian geopolitics.
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