Reform measures such as the foreign direct investment reforms, GST and a simplified bankruptcy code are likely to increase FDI in India, according to Moody’s Investors Service.

“FDI has already increased substantially, albeit from a low base. Combined with reforms such as the introduction of a goods and services tax, which lowers the cost and complexity of doing business, and a simplified and clarified bankruptcy code, FDI is likely to rise further,” it said in a report on Monday.

It, however, added that the benefits of these measures are likely to really have an impact when the global economy improves.