South Asia Investor Review

A London-based startup builder.ai, founded by an Indian named Sachin Dev Duggal,  recently filed for bankruptcy after its ‘neural network’ was discovered to be 700 Indians coding in India. The company promoted its "code-building AI" to be as easy as "ordering pizza".  It was backed by nearly half a billion dollar investment by top tech investors including Microsoft. The company was valued at $1.5 billion. This is the latest among a series of global scams originating in India.  In recent years, India has emerged as a major hub for global scams. The US government has alleged in court documents that a large enterprise originating from India was involved in stealing nearly $1.5 billion from elderly Americans. Recently, two Indian nationals, Pranay Mamindi and Kishan Patel, were found guilty of participating in a money laundering conspiracy, concealing the source of the money, and using the illegally gained money to further promote a criminal enterprise.  Six other defen...

Using a homegrown datalink (Link-17) communication system, Pakistan has integrated its ground radars with a variety of fighter jets and airborne early warning aircraft (Swedish Erieye AWACS) to achieve high level of  situational awareness in the battlefield, according to experts familiar with the technology developed and deployed by the Pakistan Air Force. This integration allows quick execution of a " kill chain " to target and destroy enemy aircraft, according to experts. This capability was demonstrated recently in the India-Pakistan aerial battle of May 7-8 that resulted in the downing of several Indian fighter jets, including the French-made Rafale.   Pakistan PAF's Homegrown Link-17. Source: Secret Projects Pakistan Air Force (PAF) pilots flying Chinese-made J10C fighter jets fired the Chinese PL-15 air-to-air missiles and shot down at least two Indian Air Force's French-made Rafale jets in history's largest ever  aerial battle , according to multiple media ...

Professor John Mearsheimer, a renowned international relations expert known for his theory of "offensive realism", has recently spoken to India's CNN-News18 about the impact of US-China competition on geopolitics in South Asia. Sharing his thoughts in interviews on India-Pakistan conflict after the Pahalgam attack, he  said : "There is really no military solution to this (Kashmir) problem. The only way this can be solved once and for all is through a political solution that both sides find acceptable". Professor John Mearsheimer on India-Pakistan Conflict Professor John Mearsheimer is a highly respected professor of political science at the University of Chicago. Here's how he introduces himself on his  personal website :  "I am the R. Wendell Harrison Distinguished Service Professor in the Political Science Department at the University of Chicago, where I have taught since 1982. Above all else, I am an international relations theorist. More specificall...

Pakistan claims its air force (PAF) has destroyed India's high-value Russian-made S-400 air defense system (ADS) located at the Indian Air Force (IAF) Adampur air base. India has rejected this claim and posted pictures of Prime Minister Narendra Modi posing in front of its S-400 rocket launchers in Adampur.  Meanwhile, there are reports that an Indian S-400 operator, named Rambabu Kumar Singh, was killed at about the time Pakistan claims to have hit it. Pakistan is believed to have targeted the S-400 systems using precision-guided CM-400AKG hypersonic missiles (max range 250 kilometers) launched from its JF-17 fighter aircraft. How can an independent observer decipher the truth in the midst of these claims and counterclaims? To do that, one must first understand what constitutes the S-400 ADS. Is it just the rocket launchers? Or does it have other critical components like the radar and command-and-control systems? Could it be that the Pakistanis left the launchers alone and ta...

Indian Prime Minister Narendra Modi launched Operation Sindoor to "punish" Pakistan after blaming it for the Pahalgam militant attack without offering any evidence. He then quickly proceeded to seek and accept a US-brokered ceasefire within 100 hours of launching military strikes on Pakistan. Now he claims that India has succeeded in its objectives for Operation Sindoor.  Let's examine Mr. Modi's  claim of victory  after seeking and accepting a ceasefire so soon after launching a large military operation. In terms of diplomacy, India clearly failed to prove its allegations against Pakistan to gain the support of the international community. Many of India's closest friends, including the US and Israel, condemned the  Pahalgam attack  but none held Pakistan responsible for it. At the same time, Pakistan's closest friends China and Turkey stood solidly with Pakistan.  Militarily,  India  incurred heavy losses, including the loss of its most advanced...

Pakistan Air Force (PAF) pilots flying Chinese-made J10C fighter jets shot down at least two Indian Air Force's French-made Rafale jets in history's largest ever aerial battle involving over 100 combat aircraft on both sides, according to multiple media reports. India had 72 warplanes on the attack and Pakistan responded with 42 of its own, according to Pakistani military. The Indian government has not yet acknowledged its losses but senior French and US intelligence officials have  confirmed  that at least one Indian Rafale jet was shot down by Pakistan on May 7, 2025. Reports of  more Rafale downings are being investigated by western intelligence officials. This marks the first time that the sophisticated French-made warplane has been lost in combat. Rafale is the most advanced French 4.5 generation fighter plane. Indian Prime Minister Narendra spoke about India's need for Rafale back in 2019 after the last IAF-PAF dogfight and said: "We (Indians) acutely felt the ...

A recent terrorist attack on April 22 in Kashmir has killed 26 Indian tourists. Prime Minister Narendra Modi's Hindu Nationalist government took no time to blame Pakistan for the attack and vowed to "punish" the neighbor for it. Indian media, also derisively known as "Godi media", immediately went into overdrive to demand action against Pakistan. New Delhi followed up with suspending the Indus Basin Water treaty from the 1960s which guarantees 80% of the water from the three western rivers (Chenab, Jhelum and Indus rivers) to Pakistan, while India gets the exclusive use of the water from three eastern rivers (Beas, Ravi and Sutlej rivers). India also ordered Pakistani visitors to leave the country and reduced Pakistani diplomatic staff posted in India. Pakistan responded by suspending Simla Agreement and banning overflights of Indian civilian and military aircraft through its airspace. Pakistan warned India that any attempt to block its share of water from the t...

Pakistan celebrates Earth Day on April 22 every year by organizing various events sponsored by the government and non-government organizations to raise awareness of the issues faced by the earth. Today it is being observed with a range of initiatives, including pledges for zero waste, commitments to sustainable practices, and community-based actions to protect the planet. Pakistan contributes less than 1% of global carbon emissions, but it is among the countries considered most vulnerable to climate change. About a third of the country was devastated by massive  floods  in 2022. The nation committed continued pursuit of nature-based solutions to the problem at  COP26  in Glasgow in 2021. As part of this commitment, the country is planting one of the world's largest  mangrove forests  in the Indus River Delta, a key component of its Ten Billion  Tree Tsunami  campaign launched by former Prime Minister Imran Khan. The area where Pakistan is mak...

Pakistan ranks among the top 5 nations in terms of international schools offering schooling based on International Baccalaureate (IB) and IGCSE (Cambridge) curricula. China leads with 1,000 international schools, followed by India (900), UAE (784), Pakistan (598) and Brazil (415). The medium of instruction in these schools is English.  Aitchison College, Lahore, Pakistan The international schools in India and Pakistan date back to the days of the British Raj when these schools were established to serve the children of the British and the British-Indian civil servants. Later, these schools also attracted the children of diplomats and expats as well as Indian and Pakistani  elites . Today, the vast majority of students attending these schools are the children of rich Indians and Pakistanis.  Karachi Grammar School, Karachi, Pakistan The international schools favored by Pakistani elites include Aitchison College, Karachi Grammar School,  Lahore Grammar School and the Am...

Pakistan's mineral resources, estimated to be over $6 trillion, attracted global investor interest at the Pakistan Minerals Investors Forum 2025 (PMIF2025) held recently in Islamabad on April 8th and 9th. It was attended by major international companies and government officials from Australia, Canada, China, Saudi Arabia, Turkiye, the US and other nations.  Pakistan is known to have large deposits of critical minerals from copper and gold to  lithium . Canadian Mining Journal has described the border region of Afghanistan and Pakistan as "Saudi Arabia of lithium".  These deposits are found in various parts of the country, including Balochistan,  Gilgit,  Khyber Pakhtunkhwa, Sindh, and the Exclusive Economic Zone of Pakistan's coastal waters. The Geological Survey of Pakistan also notes the potential of lithium in LCT-type pegmatites and super arid salt lakes. Pakistan's major lithium-bearing areas are found in the Khyber Pakhtunkhwa and Tribal Areas (...

President Donald Trump's announcement of "reciprocal tariffs" has shocked the world. Nations and corporations were all expecting the US to increase tariffs but the scope and scale have caused severe tremors in the global economy.  There's a base level of 10% tariffs on all trading partners. Imports from China (54%), Vietnam (46%), Bangladesh (37%), Pakistan (29%), India (26%), Japan (24%) and the European Union (20%) are all subject to higher tariffs. Even the poor African nation of Lesotho (GDP: $2.5 billion) has not been spared. It is now subject to a 50% tariff on the jeans it exports to the United States.  Trump's Reciprocal Tariffs. Source: CNBC The charts showing President Trump's claimed tariffs on US imports by other countries have no resemblance to reality. For example, the US Commerce Department claims Pakistan imposes a 58% tariff on imports from the US. Pakistan's trade weighted average tariffs on the US goods were  7.3%  compared to 9.9% that ...

Islamabad is establishing the Pakistan Crypto Council (PCC) to look into regulating and legalizing the use of cryptocurrencies, according to media reports. Cryptocurrency refers to digital currencies that can be used to make purchases or investments using encryption algorithms. US President Donald Trump's endorsement of cryptocurrencies and creation of a " bitcoin reserve " has boosted investors’ confidence in it.   The State Bank of Pakistan, the nation's central bank, has not authorized any individuals or organizations to carry out the sale, purchase, exchange, and investment of  digital currencies , coins, and tokens. But the country has not officially banned the use of cryptocurrencies either, allowing about 20 million users to engage in crypto transactions. “We are coming on number three and four globally and there are many blockchain technology opportunities in Pakistan", said Bilal Saqib, the chair of the PCC.   Top Countries Ranked By Global Crypto ...