The statement that the deindustrialisation during the transformational decline was caused by the adopted market reform model, not the deformed industrial structure optimization necessity, is justified in this paper. Taking into accordance two types of industrial policy realization: functional, or horizontal industrial policy, aimed to create the favorable conditions for industrial development in general and selective, or vertical industrial policy - selection and promotion of industrial sectors important for national economy long-term development. It is vertical industrial policy in particular which is common for fast-growing countries of catch-up development. As illustrated in this article, although it is supposed that in Russia the horizontal industrial policy is used, the detailed analysis of legislative instruments and existing industrial policy measures had shown that industrial policy is a significant component of economical development strategic planning implementation.