State management of the import substitution process in the Russian economy

At the present moment the Russian economy is being seriously influenced by foreign trade restrictions, international economic sanctions and measures of political pressure. Under these conditions the Government of Russia is using a wide range of measures to implement the import substitution policy aimed at compensating for the negative external impact. The article studies the economic essence of import substitution. The periodization of the import substitution policy in the Russian Federation has been done. Currently, the Russian economy is maintaining good dynamics in the reducing the import of foreign-made goods. For example, in 2019 the import share was 26% of the GDP, and in 2023 this indicator dropped to 19% or 32 trillion rubles. Consistent implementation of import substitution mechanisms into the structure of the national economy will ensure gradual reduction of the level of dependence of the domestic market on the foreign-made products. At present, companies operate in complicated economic conditions which are accompanied by special conditions for the performing foreign economic activity. With the consideration of these circumstances the authors have developed a model scheme of cooperation of the company management system and the import substitution policy. The proposed model allows detecting the interconnection between the government import substitution policy and the result of operation of the management system of modern companies. Company management systems vary depending on the area of their activity but when applying the existing tools of implementing the import substitution policy a company can achieve economic results of operation on the domestic market as well as in the foreign trade. Special significance in implementing the import substitution policy belongs to the management systems that deal with applying state support measures and tools. Effective functioning of company management systems with regard to the state’s import substitution policy helps to strengthen the country’s position in the world market and guarantees sustainable growth of the indicators of foreign economic activity.