IMPORT SUBSTITUTION AS A FACTOR IN DEVELOPMENT OF INNOVATIVE ENTERPRISES

Abstract

Currently, in terms of innovation, Russian Federation does not take a leading position on world stage. Despite its ambitious and far-reaching plans, Russia is among the low-and middleincome countries in high-tech sector. Due to the tense geopolitical situation on world stage, Government of Russian Federation adopted a policy of accelerated import substitution and support for domestic producers by means of saturation of domestic market not only with domestic products, but also with fundamentally new, competitive goods and technologies. Due to external negative factors that affect the economic potential of country, state support acts as a guarantor of competitiveness and innovative development of domestic innovative enterprises.