Abstract: Manyproblems in Russia’s economic development appeared because of the sanctions war. Hence, to solve these problems, the strategic directions of the economic policy should be clarified. It means a creation of the good investment climate, a development of the private initiative, a reducing dependence on supplies from other countries as well as a formation of the institutional fields for the re-industrialization are clarified. The researchers consider the issue of reducing the outflow of the financial and skilled human resources of the country, thereby touching upon the solution of the problem of a decreasing in the rates of the economic growth. The questions related to the international competitiveness of the Russian economy are relevant in modern conditions. A scientific position of a number of the Russian and foreign economists regarding the key role of a state regulation in the process of the import substitution and the new industrial policy or reindustrialization is presented. There is an emphasis on the development of those industries that havethe increasing returns; this fact is clearly confirmed by the matrixes of a structuring of the industrial policy, depending on the available volumes of production factors in the historical perspective. Taking into account the key moments in the history, the researchers consider the experience of some countries that used the strategy of the development of the local industry with increasing returns.