The article discusses the concepts of "industrial policy", "policy", "economic policy", "industrial policy tools", "industrial policy indicators". Particular attention is paid to the concept of stage-economic development, according to which it is necessary to adapt the industrial policy and its instruments to the current stage of economic development of the state. A comparative analysis of Russian and foreign approaches to industrial policy has been made. It has been found that: 1) The economists of developed countries consider as the only correct and possible industrial policy inherent in the stage of developed market, which corresponds to the economic development of their countries (for example, the use of industrial policy instruments such as subsidies, tax promotion, regulation / deregulation, stimulation of innovation activity), and reject as outdated and inappropriate sectoral industrial policies and inherent tools used by their countries at the stages of formation of the market and catch-up development, such as tax regulations, structural programs, competition for foreign direct investment, cluster policy. 2) Russian economists develop industrial policy approaches that are appropriate for the present economic stage of catch-up development of Russia. Directions and instruments of industrial policy that they offer are reviewed in the article.