The Russian economy transition from the raw materials export development model to the innovative one is a national priority, since it contributes to an intensive and sustainable economic growth and reduces the economy’s dependence on external markets. In the developed world (the USA, Japan, Germany, Britain, France) and the newly industrialized countries of South-East Asia and China GDP growth is achieved at the expense of “progress in knowledge” – intellectualization of the basic factors of production by 75–90%. Due to this fact ensuring increased standard of living of the Russian population and overcoming a technological and economic gap are possible only through improved labor productivity, enhanced competitiveness on international markets of innovative products, modernization and sustainable development of industrial enterprises by creating new and widely using accumulated innovative potential. The increased competition on world markets makes greater requirements for the quality of their products. This is especially true of knowledge-intensive industries, as today their competitiveness is largely determined by the possibility of continuous and fast transformation of results of scientific research and development into new products. At the present stage of the globalization process the increasing role in the global economy is played by the BRICS nations. The contribution of these countries to world GDP increased from 20% in 2004 to 23% in 2014. Currently, the development of innovative activities is one of the priorities of economic policy of the BRICS member states. The tensions between Western countries and Russia actualize the need to develop technological and innovative cooperation with our BRICS partners. The article studies specifics of encouraging innovation in the BRICS countries. It determines that the stimulation of innovative activities in the BRICS countries and expanded R&D funding will contribute to the sustainable development of economies, knowledge-intensive production of goods and services, expansion of production chains and growth in value added, promotion of corporate research and development and improvement of goods and services competitiveness on the world markets
Keywords
innovation, economy, innovative activity, industry, promotion, brics countries