Indian Journal of Science and Technology

Abstract

Background/Objectives: The article is devoted to problem connected with engineering development on innovative basis that is the most important condition of diversification and modernization implementation of national economy and restructuring assurance. Methods/Statistical analysis: Necessary conditions for achievement of rather high rates for a short period according to historical measures were created due to successful implementation of economic reform in transition market period and a number of state programs after 2000 provided transition of the country to qualitatively new stage of development focused on innovative character. Findings: Analysis to a current state of engineering and necessary justification of its advancing development for innovative updating of technical equipment production in branches of the economy as well as increase of their competitiveness is given in the article. Much attention is paid to implementation of restructuring of the operating machine-building enterprises for acceleration of innovative process in this branch. Priority directions of engineering development for improvement of its branch structure and possibility of cluster approach use and public-private partnership mechanism that opens wide prospects of production increase in machine-building production, including innovative production which replaces import one delivered to the country for ensuring its internal requirements are considered. Applications/Improvements: Efforts of the state hashould be aimed at providing needs in state investment into large infrastructure projects for the purpose of receiving benefit from innovation and effective state service management.
Keywords: Cluster, Diversification, Investment, Modernization, Restructuring, Versatility