Pani in Urdu and Hindi means water. It's a fundamental word, often one of the first learned in Indian/Pakistani households.
According to the provided reference:
Paani is the Urdu/Hindi word for “water” and growing up in an Indian/Pakistani household, it's one of the first Urdu/Hindi words I ever learned. And with good reason—paani is important.
Therefore, the direct translation and meaning of pani in Urdu is water.