Seventeen years after the 9/11 attacks, al-Qaeda has survived, due in large part to a deliberate strategy focused on gaining the support of the masses by “going local.” Al-Qaeda in the Indian Subcontinent (AQIS), the youngest affiliate of al-Qaeda, is in many ways the realization of that new strategy. Western counterterrorism circles are slowly recognizing the viability of al-Qaeda’s reach into South Asia, as AQIS appears to be building its capabilities throughout the region as other terrorist groups, including the Islamic State’s regional affiliate, Islamic State Khorasan Province (ISKP), bear the brunt of global counter-terrorism operations. This paper takes a fresh look at the emergence of AQIS— its leadership, funding sources, and future role as a dominant actor in the global jihadist movement. Moreover, this paper assesses the group’s ability to target the U.S. homeland and its assets abroad …