Cannabis Legalization: Here\’s why India should Capitalize the Billionaire Dollar Crop in its Backyard

Cannabis is a passionate topic to lay a hand on upon. Mostly people look at it simply as sedative drug ruining lives and others have pleasant ‘happy high’ as they start tripping over the mental state of bliss.

In initial stages, the harvest was not prohibited in India. India had to consider its status on cannabis and ban the herb as it was under the pressure of western countries, in the 1980s.

Presently, according to the Narcotic Drugs and Psychotropic Substances Act’s trade and consumption of cannabis’ resin and the bud is considered illegal.

Having said, cannabis is more than just ostensible as narcotic drug. Mankind might go beyond since eternity, the plant has more than 30,000 uses to it and researchers are working to see how it could crack the cancer epidemic along with other health issues.  

  • Why cannabis is the best thing that happened to mankind, let’s us explain what makes the plant so valuable?

There are mainly two varieties of cannabis out there in our patch – the well-known marijuana and another NOT so famous herb hemp.

What makes these varieties stand wide apart is its tetrahydrocannabinol (THC) level – the psychoactive ingredient which adds value to weed (cannabis bud) or hash (cannabis resins). The THC traces in marijuana are between 3-30 per cent, whereas, in hemp, the level of the narcotic feature is fewer than 3 per cent.     

However, there is a cover ban on both marijuana and hemp production in India. Also, considering cannabis is state-related matter, farmers need a license to grow cannabis and very few research organizations has obtained it. 

Why Should India make officially recognized Cannabis?

With countries like Canada legalizing cannabis and US states’  allow medical uses, according to industry estimate Cannabis sales could touch $15 billion in 2019 globally and in another 10 years, the market could be worth $ 60 billion. 

The country will not just tap this break but also find solution to the agrarian crisis while creating jobs and increasing its revenue, only if India decides to legalize these cannabis.

Grand View Research, in its report, notes the legalization of medicinal marijuana and decriminalization in some countries has led to a considerable reduce in the black market, as people are resorting to legally purchasing cannabis for healing as well as entertaining use. 

“Moreover, a government earnings through taxation is further examined as an opportunity for countries to earn revenues. Presence of a large customer pool and validation of medical marijuana in the U.S. and Canada is expected to propel the product demand from North America,” the report added.

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