Only 6% of business representatives resolved the issue of import substitution, showed a study by the Internet Initiatives Development Fund. Even basic import substitution tasks remain unresolved, and the market is simply not ready to abandon foreign solutions, respondents noted.

Only 6% of business representatives have resolved the issue of import substitution: study

The Internet Initiatives Development Fund (IIDF) carried out a market study on the possibility and perspectives of import substitution. The survey involved 50 Russian corporations from 12 industries, and the opinion of the IIDF Center for Corporate Innovations team is also presented in the study results.

Only 6% of those surveyed admitted having solved import substitution problems. Basic tasks remain unresolved, for example, guaranteeing technological independence (60% of respondents) and the operation of the current infrastructure (55%).

The market is not ready to completely abandon foreign solutions, the study showed. Every third respondent noted that there are no analogues in the domestic market, 64% of respondents noted the low quality of domestic solutions. 28% of respondents noted the high cost of such solutions, another 43% emphasized the complexity of their integration.

Almost one in two respondents use exploration to solve import substitution problems, 38% use acceleration programs for these purposes.

Author:

Kirill Bilyk

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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