OREANDA-NEWS. Vladimir Putin held a meeting of the Presidium of the State Council on Industrial Policy in Volgograd.

Opening the meeting, Vladimir Putin said that the country needs a new model of organization of production targeted to the creation of innovations and basing on the competitive environment, the press service of the president informed.

Existence of the enterprises with the closed industrial loop impedes the industrial modernization. In this connection it is necessary to create an industrial model integrated into the interregional and global cooperation ties.

According to the president, Russia has real preconditions for launching such model – those are the internal demand for industrial production, strengthened domestic business, which has enough to invest in the production of hi-tech industrial materials.