An Israeli business delegation met Uttarakhand Chief Minister Trivendra Singh Rawat here Wednesday and discussed the setting up an algae and a medicinal cannabis farms in the hill-state.
According to a press release by the government, Puremagics Ltd, an Israeli firm specialising in biotechnology, intends to produce Haematococcus pluvialis, a species of algae used in the manufacturing of cosmetics and nutritional supplements in Uttarakhand.
It further stated that the company also expressed interest in farming and processing of medicinal GMP cannabis (medical cannabis) in the state, for which it is deliberating a collaboration with Indian Industrial Hemp Association (IIHA), the only licensee of cannabis farming in Uttarakhand.
Rawat told the delegates that his government was committed towards generating employment opportunities, stopping migration from the hill-state and boosting local economy in Uttarakhand, the statement said.
He also expressed his support and willingness in making the firm's proposal operational.
Avi Peled, chairman of Puremagics and other executives of the firm were part of the Israeli delegation.