NEW DELHI: The last nine years have seen decisive policies, political stability, democracy and teamwork in the federal structure, which pulled the country out of a “policy paralysis” induced between 2004 and 2014, Union home minister Amit Shah said on Friday.

Speaking at the annual session of the PHD Chamber of Commerce and Industry, Shah said it is time to change both the size and scale of the Indian industry and the need of the hour is for companies to go multinational, adding that the network of small and big industries will have to be strengthened.

Shah claimed that the period between 2004 and 2014 shook the country, stating that it was the “last period of political instability.”

“India’s economy has got a new direction under Prime Minister Narendra Modi, the result of which has been witnessed in the last nine years,” Shah said.

“The last nine years have been that of political stability and decisive policy-making. Our GDP has nearly doubled from $2.03 trillion to $3.75 trillion during the period. Per capita income has also increased from Rs 68,000 in 2013-14 to Rs 1.80 lakh,” he said.

The Prime Minister has tried to change India in every aspect in the last nine years, and his efforts have yielded results, the home minister said.

“After successfully organising the G20 Summit, a new energy has been infused not just in the trade and industries sector, but in every other sector in the country. People are experiencing a new momentum,” Shah said, adding that, “Trade and industries are the backbone of a country’s economy as they infuse energy into the economy.”

Due to changes brought about by new policies, “India’s Moment” is talked about and India is now known as a vibrant destination globally, he said.

“Whenever a company wants to shift base, India emerges as the bright spot,” Shah remarked.

“Our country is young. We have the largest number of engineers, doctors and technocrats. There is democracy and teamwork here. The policy formulation is also clear under the leadership of Modi. Now, no one can stop India from establishing itself at the top in every sector during Amrit Kaal," he said.

Shah said the Production Linked Incentive (PLI) scheme has fulfilled the dream of Make in India in 14 sectors within the country.

The new education policy brought by the Modi government will make India the best destination in the world for students in the next 10 years, the home minister added.

“We live in a federal structure, and unless the concept of Team India is followed, comprehensive development of this country is not possible,” he added.