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 cannot be imported, she added.