Andrey S. Chekunov – candidate of economics sciences, Chief specialist-expert on the development of cooperation of the Rostov Regional Union of Consumer Societies (Russia, Rostov-on-Don), E-mail: chekunovandrey61@mail.ru

Abstract.  The subject and purpose of the article. The article is devoted to import substitution in the engineering industry for the food and processing industry. The purpose of the article is to analyze and assess the effectiveness of the provision of state financial support for import substitution in the industry. Methods and methodology. We use the method of tabular interpretation of data, a comparative method, methods of induction and deduction, analysis and synthesis. The article presents an analysis of the current state of the industry, the volume of its financial support, the position of national producers in the domestic market of mechanical engineering for the food and processing industries. Results. The article analyzes the state support of import substitution in the industry and its results. On the basis of data on the current state of the national machine-building industry for the food and processing industries, the main problems in the development of the industry were identified, the dynamics of import substitution in it were shown, and recommendations were formulated for the effective development of the industry in the long term. Application area. The article discusses the implementation of the state policy of import substitution in the engineering industry for the food and processing industry of the Russian Federation. The main results of the development of the industry in terms of the state policy of import substitution are outlined. Conclusion. The paper identifies the main problems in the development of the industry, describes the current state of competitiveness of its products, shows the impact of government support on the industry. The conclusions outlined in the work can be applied when improving measures of state support for the machine-building industry for the food and processing industry of the Russian Federation as part of the current import substitution policy.

Keywords: import substitution, mechanical engineering, food and processing industry, government support, subsidies, discount.

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