The paper considers the growing importance of technology in ensuring the competitiveness of the domestic economy and its sustainable development in the context of the 4 th Industrial Revolution. Focus on technological innovations should form a basis for the structural adjustment and revival of the real economy. The implementation of this course coincides with the global trend that today defines the industrial policies of developed countries the new industrialization. In this context, we

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... new approaches to the development of the industrial policy in Russia that could allow structural and technological transformation and foster economic growth. The paper explores how right structural and scientific and technological priorities can be established and integrated in the industrial policy framework, and how institutional environment required to support scientific, technological, and industrial development can be created.