patentneer
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^^^For the first 40 years of its existence Pakistan was wealthier than India and what you say did not happen. Karachi already has the world's largest slum and it is growing
The Empire ran on minorities doing business, and before that the Mutual era ran on similar ideas. Trade, business and commerce was a local play by local stakeholders.
Point being, both krunchy and amchii are community business oriented to this day. Neither socialism nor Islamism change business dynamics by too much. Caste and community based businesses. Ismaili's, Bohras, Marwaris, Hindu Punjabi, Sikh, Parsis are famous, local Scots, Anglos, Malabari's, Konkani, Goan and Catholic, Reddy, Kamath, Jewish, Indo-French, Italian, Armenian, Afghan, Chettiars less famous.
Since World War, and in the Indo-Pak context of Sindh and Bombay, no war; but partition and terror have knocked minority biz. far more then anything in the recent past. The communities are fairly flex so they travel, re-locate, immigrate, marry across boundaries.
Sad, but natural that when business is bad; the key drivers of biz. flee.