The Foreign Investment Promotion Board has sought certain clarifications from HCL Infocomm, an arm of IT firm HCL Infosystems, on its proposal for a JV with Nokia to sell handsets and accessories.

The Foreign Investment Promotion Board has sought certain clarifications from HCL Infocomm, an arm of IT firm HCL Infosystems, on its proposal for a JV with Nokia to sell handsets and accessories. Nokia will hold a 51 per cent stake in the venture while HCL Infocomm will own 49 per cent share. When approved, this will be the first single-brand retail JV in the mobile handset space in India.