Since India and Pakistan conducted their nuclear tests in 1998, every danger associated with nuclear weapons – proliferation, instability, and terrorism – has been linked to the region. And despite nuclear deterrence and the modernization of nuclear forces, South Asia is a far cry from achieving stability. Indeed, the security situation in South Asia has deteriorated and violent extremism has surged to unprecedentedly high levels. In the past decades, both states have operationalized their nuclear deterrent forces, increased production of fissile material and nuclear delivery means, and developed plans to field a nuclear capable triad. Concurrently, both countries are expanding civilian nuclear facilities in their quests for a cleaner source of energy to combat current and future energy shortages. As tensions and violence in the region have increased, both states blame the other’s policy choices for the scourge of terrorism that has seized the region. New leadership in India, Pakistan, and Afghanistan however, creates an opening to tackle the immediate scourge of violent extremist organizations and unresolved historic conflicts. Ironically the traditional stabilizing force in the region – the United States – is drawing down in Afghanistan and shifting its focus to the Asia-Pacific region and to Russia where new tensions have erupted. Within this security context, India and Pakistan will be left on their own to devise mechanisms to mitigate and eliminate the regional risk of terrorism. As the South Asian threat matrix becomes more complex and with concomitant progress in the nuclear field, these developments provide the basis for the spectacular terror attacks in New Delhi, Mumbai, Karachi, and Islamabad-Rawalpindi. As states possessing nuclear weapons, both India and Pakistan must find a common objective and mechanisms to deal with the metastasizing menace of terrorism. It is imperative that both states acquire the highest standard of nuclear security best practices and learn to live as peaceful nuclear neighbors. Individually, as well as collaboratively, India and Pakistan should direct their efforts to creating a cooperative relationship in the region and developing a nuclear security regime that encapsulates the nuclear security visions set by the three global nuclear security summits