Industry body PHD Chamber has said that the Goods and Services Tax (GST) and bankruptcy laws will emerge as facilitators for both inbound and outbound mergers and acquisitions (M and A) in the country. "With GST and bankruptcy laws in place, prospects for mergers and acquisitions both inbound and outbound would grow proportionately in India," the industry body said in a forecast. The forecast was revealed at the "Global Investment and Acquisitions Forum 2016" under the joint aegis of PHD Chamber of Commerce and Industry, Corporate Catalyst India and M and A Worldwide. According to the business body, global majors have strategised to launch their corporations and begin business with their counterparts in the joint venture sector. "This change has come after the new government has come to power with Prime Minister Narendra Modi at the helm of affairs," forecast said.