Importance Considering the import-oriented model of economic development, it is especially critical for Russia to increase the domestic production, stimulate S&T advancement and offer competitive national products in the global market. Objectives The research analyzes theoretical and methodological aspects of the import substitution policy as one of the sustainable economic growth drivers at the current stage of Russia's development. The research pursues identifying negative consequences of Russia's economic dependence on import, analyzing theoretical aspects of the import substitution policy in Russia, setting up a mechanism for the most effective implementation Methods The article presents a comparative analysis of support to science and education in Russia and other countries in 2015. Results We substantiate that it is necessary to shift from the import-oriented to definite export-based model of economic development. Elaborated and effective import substitution policies should be a cornerstone for such transformation. We also analyze negative aspects of dependence on import that has been aggravating for decades, thus involving the key and strategic sectors of the Russian economy. The article proposes the most efficient and appropriate mechanism to protect domestic manufacturers in the current circumstances. Conclusions and Relevance The import substitution initiative should develop in a versatile, and profound manner. Production rates should be reached and increased not only in certain industries, but also throughout the entire economy. Import substitution is to become one of the leading doctrines of Russia's economic development.
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