India Is Looking To Supply The World With Industrial Hemp

During the last decade, the global cannabis industry has recorded transformational changes as new markets open and this is a trend that we expect to accelerate in the coming years.

Although India is the second largest country in the world (by population), the market has just started to become highly interested in the hemp industry. We believe the country could quickly prove to be a major market for industry hemp and expect the size of its population to have an impact on the growth profile.

In India, state governments have the power to grant licenses for the cultivation of cannabis for medical and scientific purposes. Uttarakhand’s government made headlines when it became the first state in India to issue a license for the cultivation of hemp to the Indian Industrial Hemp Association to grow industrial hemp.

Following this development, other states in India have reported to be discussing plans to legalize hemp and we are favorable on this trend. Education has accelerated the hemp legalization trend and there has been a major improvement in knowledge about the difference between hemp and medical cannabis

Hemp is used in a variety of industries and has countless uses. For thousands of years, hemp has been used to make food, beverages, paper, clothing, biofuel, and much more. India could benefit from the legalization of hemp and we expect to see a shift in legislation in the near future.

The Industrial Hemp Market Size, Share and Trends Analysis report that was published in February 2020 by US-based Grand View Research stated that the hemp market is benefiting from increased demand for hemp oil and fibers from the automotive, construction, food and beverage, personal care and textile industries.

According to the President of the Indian Industrial Hemp Association, the number of registered hemp startup companies have increased by approx. 100 in the last 18 months. We are favorable to the increased number of Indian companies that are focused on the burgeoning hemp market and will monitor how this impacts the industry.

If you are interested in learning more about India’s hemp market, please send an email to support@technical420.com with the subject “India’s Hemp Market” to be added to our distribution list.

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