India were handed a tough chase of 288 runs in 50 overs. Left-handed Zol anchored the innings with a brilliant knock of 109 not out but could not take the team home.
India needed 17 runs off the final over but were restricted to 15 with Zol faced only two balls in the final over of the game. Though Rush Kalaria hit a six off the first ball and Zol had a boundary, Pakistan bowler Mohammad Nawaz held his nerve to succeed under pressure.
On the final delivery, India needed two to win and one to tie. However, Mohsin Sayyed could only managed to hit the ball back to the bowler and there were no runs scored.
India ended with 286 for seven. Captain Unmukt Chand made 49 off 78 balls while Akshdeep Nath contributed 42 off 28 balls. Kalaria made a 16-ball 30.
The 17-year-old left-handed Zol, who made headlines in India with a mammoth 451 not out in the Under-19 Cooch Behar Tournament, hit nine boundaries and a six. The boy from Maharashtra was left disappointed at the end of the game.
Earlier, sent to bat, Pakistan were powered by their opener Sami Aslam, who hit an impressive century. The 16-year-old left-hander made 121 off 149 balls with 15 fours and a six. He won the Man-of-the-match award.
For India, Kalaria was the most successful bowler with bowling figures of 4/54.
India, who are in Group A, are placed second behind Pakistan. India will next play against Nepal on Tuesday.
Brief Scores: Pakistan 287 for seven in 50 overs (Sami Aslam 121, Imam-ul-Haq 88, Mohammad Nawaz 43, Rush Kalaria 4/54, Mohsin Sayyed 2/63) beat India 286 for eight in 50 overs (Vijay Zol 109 not out, Unmukt Chand 49, Akshdeep Nath 42, Rush Kalaria 30 not out, Akhtar Waheed 2/54).