The industry of the Russian Federation can become a driver of the digital economy and information society by creating a basis for ensuring technological sovereignty and establishing conditions for the development of business models for industrial enterprises. Thus, the executive and legislative authorities of the Russian Federation should accelerate the development of a comprehensive regulatory framework for state policy in this area. The purpose of the study is to systematize foreign and Russian approaches and directions of state regulation of industry digitalization, as well as to analyze their impact on the speed and efficiency of the transformation of industrial business models. The authors analyzed scientific publications on the research topic presented in the system of the Russian Science Citation Index and in Scopus, Taylor & Francis databases. The systematization of regulatory documents and technical regulations that support the digital transformation of Russian industry and state policy in this area was carried out. The results of the study are supplemented with the results of a questionnaire survey of industrial enterprises in a number of Russian regions conducted in April–June of 2022 using the Google Forms service. It was found that the state policy of digital industrialization of the Russian Federation and its regulatory support are focused on the best world practices and claim to be an integrated approach. But so far a number of problems remain: insufficient consistency, high variability of the legal field, insufficient development of technical regulation, the presence of contradictions in legislation, standards and technical regulations. The regulatory and legal framework for the digital transformation of business models in the Russian industry, despite the measures taken, has not yet been formed at a level sufficient to solve the tasks set. This preserves a number of barriers to digital industrialization and makes it difficult to plan and implement business model transformation projects at industrial enterprises. An integrated approach to the regulation of digital legal relations is important. Such an approach should go beyond focusing only on technology, it should be based on an understanding of digital business models as complex socio-economic and technical systems.