I sent application for PIO card on 8/11/2007 (priority mail) to New york consulate and received PIO card on 9/6/2007. They mailed it back on 8/31 if i had selected express mail i might have got it little earlier. Hope this info helps.
I thought PIO was much faster than OCI. If it takes almost a month, then there is almost no reason to prefer PIO over OCI. OCI is cheaper and has quite a few advantages.
Of course the only exception would be American-born kids of Indian parents who I understand are not eligible for OCI.
What you guys should do is push the Indian government to accept full dual citizenship. You're bringing so much money to the country and I am sure India is using you as a bargaining chip and you should have a voice. You have made the sacrifice of going out of your country for economic or other reasons and your country should recognize this and treat you well in terms of dual citizenship. That's just my opinion, but it pains me when I see how after all the money and expertise that Indian expatriates bring to India and see this half-baked dual citizenship crap they have thrown your way.
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