INNOVATIVE PROCESSES IN RUSSIAN INDUSTRY

Objective: to demonstrate the current status of Russian industry, to assess prospects for its development and to identify the impact of innovative processes on economic development. Methods: a systematic approach based on general scientific methods of empirical and theoretical researches, such as observation and comparison, analysis and synthesis, induction and deduction, as well as statistical methods, macroeconomic analysis. Results: in this article we illustrated trends and identified causes that hinder the production modernization of the whole Russian industry; we also revealed the sector that can become the driver of innovative development, which will allow to restructure the existing industrial policy and to use the existing competitive advantages. Scientific novelty: we defined the tasks that will allow upgrading of technological base and rational resource management in industry; moreover, we defined the indicators, which allow us to estimate the competitiveness of industrial production. Practical relevance: conclusions and suggestions can be used by governmental authorities and experts during development of strategic policy, aimed at innovative development of the Russian economy.