NEW DELHI (Reuters) – India will ease limits on foreign direct investment in defence manufacturing, Finance Minister Nirmala Sitharaman said on Saturday, in a bid to bring more production into the country.
Under the plan, foreign investors would be able to own up to a 74% stake in defence manufacturing ventures, up from the current 49% limit, Nirmala Sitharaman told a news conference.
India would also expand the list of weapons that can not be imported, she added.
(Reporting by Aftab Ahmed and Manoj Kumar; Editing by Andrew Heavens)
