Within the UK, there are very few benefits to being a British citizen over being an Indian citizen (which I am assuming from your flag and the fact that you were inquiring about OCI) with ILR. You have the right to reside in the UK indefinitely, any children born to you in the UK will be British citizens and due to your Commonwealth citizenship, you have full rights to participation in political life, from voting to being elected as a councillor or an MP, etc.
Also see this Freemovement article:
What is so special about being a British citizen, legally? (h/t to
@vinny for linking to that article).
The major difference arises when you leave the UK. Your ability to enter and leave other countries will be based entirely on your passport. ILR is an immigration status domestic to the UK and will likely hold no relevance to the rest of the world. Children born to you abroad will have the same UK immigration status as that of the
less-privileged parent and will not automatically be British citizens. Your ILR (and whether it has lapsed or not) is reassessed whenever you re-enter the UK from abroad, which is why you queue up in the "Other Countries" queue and not in the British citizens queue.
ILR lapses automatically after any absence of more than two years from the UK and can be cancelled at the airport if in the opinion of the Immigration Officer, you have not been residing in the UK (by residing abroad for long periods of time while coming to the UK for only short visits, for instance). And as a grant under domestic law, it is easier to strip than full British citizenship (which being a status under international law, has more rules and regulations to comply with before being stripped away).
As I understand it, India restricts ownership of certain types of properties to Indian citizens and that is generally the major consideration for people retaining Indian citizenship after acquiring ILR. So you would probably want to reflect primarily on whether you plan to either acquire or inherit such restricted types of properties in India. Of course, you will likely not be able to reside there for any lengthy period of time, because as mentioned above, that may imperil your ILR.
Also see this old thread on the
consequences of losing Indian citizenship.
OCI is an interesting half-way house from the viewpoint of both the British and Indian governments. While the Indian government does not consider it citizenship in India, the Home Office
does,
for the purposes of statelessness (while the Foreign and Commonwealth Office doesn't and would still provide you consular support in India). So it is a wonderfully ambiguous status that means different things to different people.
I am not a lawyer or immigration advisor. My statements/comments do not constitute legal advice. E&OE. Please do not PM me for advice.
