What will it take for Moody's to up India's rating?

Ratings agency Moody's said that India's rating outlook now 'positive' as against 'stable' because of the various reforms undertaken by the NDA government. 

However, the ratings agency maintained a 'Baa3' rating which effectively means that it still doesn't think India merits investments. The agency, in a statement, said, "Moody's decision to revise the ratings outlook to positive from stable is based on its view that there is an increasing probability that actions by policy makers will enhance the country's economic strength and, in turn, the sovereign's financial strength over coming years."

The agency didn't change India's sovereign rating but tinkered with the rating 'outlook'. 

The agency warned that India's rating outlook will be snapped back to 'stable' if economic, fiscal and institutional strengthening appeared unlikely, or banking system metrics remained weak or balance of payments risks rose.

What would it take for Moody's to up India's rating to investment grade? 

Moody's said, "Evidence in the coming months that policymakers are likely to be successful in their efforts to introduce growth-enhancing and growth-stabilizing economic and institutional reforms would lead to the rating being considered for an upgrade."