PECULIARITIES OF IMPORT SUBSTITUTION DEVELOPMENT IN THE RUSSIAN ECONOMY

In modern geopolitical realities, the issues of industrial development largely determine the features of the development of the national economic system. The processes of globalization, regionalization and sanctions pressure on a number of world market players, forming conditions of unfair competition within the world economy, directly affect the peculiarities of economic and industrial development, the processes of ensuring sustainable economic growth. The industrial policy realized in the directions of structural, innovative and investment transformation of industrial development of territorial and national economy requires consideration of the experience of import substitution development in other national economies. The purpose of the study is to identify the most significant parameters that ensure the effectiveness of import substitution policy implementation in the modern economy, to determine the interdependence of the innovation process and the process of economic development. Consideration of theoretical approaches to the analysis of the peculiarities of formation, selection of priority directions of improvement of the import substitution process in the Russian economy, in turn, has a direct impact on the directions and efficiency of industrial development of individual regions and the national economy as a whole. The study uses the methods of comparative analysis, generalization and identification of key parameters of industrial development transformation. The results of the study can be applied in the practical implementation of industrial territorial policy, in the implementation and improvement of import substitution policy in the Russian economy.