Evolving Power Dynamics in South Asia Ikram Sehgal in conversation with Dr Huma Baqai Karachi Literature Festival (KLF)

Karachi Pakistan : In a deep-dive conversation with Dr. Huma Baqai, Rector of the Millennium Institute of Technology and Entrepreneurship (MiTE) about the rapid shift in the geopolitical landscape of the subcontinent. Ikram Sehgal, Co-Chairman Pathfinder Group, addressed a packed audience at the Karachi Literature Festival (KLF) 2026 on the theme “Evolving Power Dynamics in South Asia”. Ikram Sehgal asserted that while political and military avenues remain gridlocked, economic integration is the only “non-controversial” path to regional stability. He
drew on our unique heritage—describing himself as having "Pakistan and Bangladesh – “Two Countries One nation” in his DNA to highlight the untapped potential of Pakistan-Bangladesh relations. Ikram Sehgal advocated for a borderless South Asian economy starting with Pakistan and Bangladesh and possibly with Sri Lanka, reviving 2 Zia-ur-Rehman’s 1977 vision of “No visas, No tariffs” which became the basis for SAARC. He proposed Rupee- Taka compatibility and revealed that it is Pakistani entrepreneurs who drive Bangladesh's textile success. A key
highlight of the talk was the historical economic synergy between Punjab and Bengal, noting that prior to 1947, these regions were the "granaries" of South Asia. While Pakistan is physically attached to the region, it was gradually made isolated by the political dominance of India's short-sighted parochial current BJP-led government.
Noting South Asia to be a "blend of many civilizations,” Ikram Sehgal observed that this diversity included Central Asian, East Asian, and Middle Eastern influences mirrored in modern urban demographics, where cities like Karachi have evolved into ethnic clusters—citing Lyari’s Sindhi/Baloch heritage and the Mahajir center—similar to urban "ghettos" in the West. He emphasized that understanding this diversity is crucial to resolving the region's current isolation. "You cannot untangle South Asia militarily or politically, but you can do it
economically," he stated, pointing to the complementary nature of regional resources. Addressing the rise of religious nationalism in India, he warned that such exclusionary ideologies threaten the regional balance, affecting populations in Bangladesh, Sri Lanka, and Nepal. He noted that while India seeks regional dominance, it is losing out on the connectivity benefits that a collaborative Pakistan could offer to the rest of the world. The time has now come after May 9 to become aggressive in our stance instead of being reactive. Pakistan’s Armed Forces have
proven that size has very little relevance to power, May 9 proved that the “policeman of the region” image built up by India in the Indian Ocean area was shown to be “hot air”. Moreover, it must change Pakistan’s tack of being reactive to Indian machinations. As Sam Dalrymple described in his book “Shattered Lands”, India is a born out of subterfuge and powerplay. It is time to set free the people that India has enslaved because of its machinations and vicious caste system starting with the North East. It is indeed a wonder how many muslim nations tolerate the brutality of the Indian govt towards its motives, mainly muslims.
Describing the China-Pakistan Economic Corridor (CPEC), Ikram Sehgal said it is a vital outlet for China but emphasized the need for United States engagement in Pakistan to provide a strategic balance and reduce over- reliance on a single superpower. Today the youngest US aircraft carrier of its fleet of 11 in the 12 year old “Gerald S. Ford”. The oldest Chinese aircraft carrier out of present fleet of 4 is 4 years old, while more than half a dozen will be active by in the next 3-4 years, equalling the US in numbers but are exceeding in technology and armaments. The US would not like the Indian Ocean to become a Chinese Ocean.
Dr Huma Baqai, acknowledged Ikram Sehgal’s role as a bridge between Pakistan and Bangladesh. The discussion left the audience a mix of students, entrepreneurs and tech leaders with a clear message, South Asia’s future lies in economic pragmatism over political dogma.