Jamie, it is entirely possible that Ajit (playing the long game) is holding back, waiting for the present committee to fail. By doing so he can demand more favourable conditions for the likes of PoET and any other company he may be directly (M2I) or indirectly (SEMI) involved with.

Worth considering is that perhaps Ajit may have polital aspirations as well and a bold move on the "Made in India" front in the photonics and/or semiconductor by a group headed by him would be a very favourable stepping stone to the prime minister's office