STATE REGULATION PROCESSES OF IMPORT SUBSTITUTION AND DIVERSIFICATION IN LIGHT INDUSTRY

Abstract

The textile industry, which originated in the first quarter of the 18th century, has undergone significant changes since the time of Peter the Great and was closely connected with the development of the state. The light industry, as well as other sectors of the economy, is influenced by both domestic and foreign policy of the state, which reflects the conditions for the development of the economy. At the present stage of development, the trend of transformation of economic sectors is import substitution and diversification of industries associated with economic and political sanctions. The basis for the implementation of such processes are innovations. The article discusses the most important problems of the light industry sector associated with high wear and tear of fixed production assets, lack of working capital, dependence on imported raw materials and equipment. It is proposed to use the experience of foreign countries in matters of state regulation of the development of the industry. The issues of interstate integration with the countries of the near abroad, clustering as a key attribute of an innovative economy is considered.