@ Author
It will be cancelled along with its benefits.
Reasoning:
Assuming you got this stated PIO status because of support (existence of) a spouse i.e. your marriage. Moreover it is valid for 15 years. You have not mentioned when you acquired it (dd/mm/yyyy) not that it matters to me as replier, however it matters in case you have bought property in your name while here in India! When spousal relations subsists how do you expect dual citizenship benefits courtsey Indian Govt.? is it not going to be a change of very ‘circumstances’! Now, you have also to ask another probable problem erupting with a subsisting marriage (i.e. on the date when decree is prepared) what will happen to your present visa when PIO card gone I can forsee such issue out of the blue hence preparing you beforehand?????. Unfortunately I donot know the answer to this part which I will admit as PIO Card is of very very recent issuing and I had very limited contacts with PIO folks during recent India Meet. To give you solace naturally it is unfair but that is the way it is.
Layman’s way I put it - Its the choice one makes………………
If it helps in any way you may scan through
https://mha.gov.in/fore_division.htm and https://mha.nic.in/citizenship/acquire1.htm for further valuable inputs.
However, I am open for further correction on above take………