Russia's Industrial Manufacturing Ambitions Could be Slowed by COVID-19, an Industrial Info Market Brief

Russia's Ministry of Industry and Trade is preparing a large-scale industrialization program, spanning 2020 to 2035. The ministry aims to raise the share of domestic components in products from 10 key industries to 75%. However, ministry officials acknowledged it will be very difficult to expand sales significantly amid the COVID-19 pandemic, which has led to a global decline in related consumption.