The administration on Wednesday liberalized the foreign direct investment (FDI) cap in seven major economic segments comprising public sector oil refineries, whereas allowing foreign investment in segments including commodity exchanges and credit information companies (CICs).

In the case of petroleum refining by PSUs, the Union Cabinet has sanctioned raising the equity cap to 49% (from the existing 26%) with former FIPB authorization. But, it does not ideate weakening in the subsisting PSUs.

In case of trading and marketing of petroleum products, the Cabinet has relinquished an essential condition of divestment of up to 26% with Indian partner/public within five years.