The home ministry and the Department of Industrial Policy and Promotion (DIPP) reportedly have a difference in stance over Switzerland-based ByCell’s application seeking permission to hike its investment in India by launching cellular services. The Prime Minister’s Office (PMO), however, received complaints that the identity of the investors of ByCell was unknown. While the home ministry has taken a serious view of the security issues involved in ByCell’s application, the Foreign Investment Promotion Board, which falls under DIPP, feels there should be no delay in security clearance for a company that already has approval for foreign direct investment.
