Systematization of approaches to the concept of "import substitution" and its economic nature

The article considers existing approaches to the concept of «import substitution» and its economic essence. In the studies of foreign economists, the term «import substitution» is considered in the context of the creation and development of industry. Proceeding from the considered definitions of Russian scientists, the main features of the import substitution process were singled out, on the basis of which the author's definition of this concept was developed. In the spring of 2014, Russian President Vladimir Putin announced a policy of active import substitution.