This article presents the theoretical foundations of the organic modernization and the development tendencies of the main branches of the industry in the economy of Russia. The prospects for the modernization of the industry are assessed by the criteria for the dynamics of the production and exports. According to the theory of Kondratiyev, on the basis of the trends in these indicators, upward and downward waves are identified. In compliance with Faltsman method, the forecast showed the growth and expediency of modernization of grain farming, housing construction complex, and motor-car industry. But it wasn't revealed the prerequisites for the growth of the petroleum industry and the military and industrial complex. The results of the study represent practical recommendations for the industrial development strategies.