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Forecasted industrial decline signals underuse of innovations — Russian parliament speaker

May 14, 2015, 20:52 UTC+3 MOSCOW
Whereas the agrarian sector is demonstrating growth and further growth is forecasted, there are no such forecasts for the industrial sector
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© Dmitry Rogulin/TASS

MOSCOW, May 14. /TASS/. Forecasted industrial decline is an alarming signal demonstrating that Russia underuses innovations, speaker of the Russian State Duma lower parliament house Sergey Naryshkin said on Thursday.

"In the agricultural sector, import substitution is encouraged by the so-called counter-sanctions that are geared to protect Russia’s food security," he said. "In other sectors, the situation is worse."

"Whereas the agrarian sector is demonstrating growth and further growth is forecasted, there are no such forecasts for the industrial sector. Moreover, it is expected to demonstrate a minor decline," Naryshkin said. "Although minor, it is still an alarming signal telling much, including the underuse of innovation approaches. But the use of high technologies in conditions of reduced resources makes it possible to achieve good results."

"Obviously, a permanent and systemic monitoring of the normative base is needed, including the government’s sectoral plans of import substitution. And, naturally, it is necessary to improve the existing legal base," he said, adding that this was a top priority in the Duma’s work. "The lawmaking portfolio of our sectoral committee, the committee for economic policy and innovation development, has about 150 legislative initiatives," Naryshkin said.

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