Business Standard

After United Nations vote, high hopes for Indian cannabis industry

Their optimism stems from the United Nations (UN) reclassifying cannabis as a less dangerous drug in December 2020

Cannabis, Ganja, drugs
Premium

In India, the Narcotic Drugs and Psychotropic Substances Act, 1985, illegalises recreational use of cannabis

Ritwik Sharma New Delhi
For long, cannabis has been contested territory in India. It’s deified as a sacred plant and demonised as a devilish drug at the same time.

But for a new breed of cannabis entrepreneurs, this is a moment of hope. Start-ups such as Bombay Hemp Company (Boheco), HempCann Solutions and Everest Eco Hemp are part of a nascent industry that is sensing a growing acceptance and wishing for decisive action from policymakers to unlock the potential of cannabis as a wonder plant.

Their optimism stems from the United Nations (UN) reclassifying cannabis as a less dangerous drug in December 2020. Among the 53

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in