Selection of the Key Spheres of Modern Russia’s Industry: Prioritizing

The purpose of the article is to determine the key spheres of modern Russia’s industry in the interests of stimulating its strategic development in the long-term. During determining the key spheres of Russia’s industry, the authors are guided by the Concept of long-term socio-economic development of the Russian Federation until 2020, established by the Decree of the Government of the RF dated November 17, 2008, No. 1662-r. The information and analytical basis of the research includes the materials of the ranking for the values of the global competitiveness index in 2016 according to the World Economic Forum and the ranking for the knowledge economy index according to the World Bank. In order to study the current state of Russia’s industry and to determine the priorities of its development, the authors use the method of structural and functional analysis. In the course of the research, the authors come to the conclusion that state’s non-interference into the real sector of the Russian economy is a reason for its development in strategically unprofitable direction; it is necessary to set priorities of development of modern Russia’s industry. The authors substantiate the necessity for and present the logic of restructuring of modern Russia’s industry.