A quick Google search about hemp will leave you with two thoughts – one, hemp is a cash-rich crop and second, guilt for not making most of it.
Slowly and steadily, native entrepreneurs have started to realize the potential of the hemp, which is poised to be known as a trillion dollar cash crop. For instance, did you know one can produce roughly about 33,000 products from a hemp plant ? These products can range across the sector from pharmaceutical to renewables to constructions and textile.
But more importantly, hemp advocates sustainability – the hot topic of the decade and coming ones.
Having said that, starting a hemp startup in a country like India is not cake walk as the plant is still misunderstood as marijuana, even though its lower THC levels makes it safe for industrial use.
So if you are planning to enter the hemp industry, here are a few points you need to keep in mind.
Regulations
Hemp is state government subject in India. And as of now, only the State Government of Uttarakhand has legalized the production of industrial hemp.
For the cultivation of the industrial hemp, you need to write to the District Magistrate of the proposed production region. Additionally, the license holder can only use certified seeds with less than 0.3 per cent THC levels and the permission to import the seeds can be obtained from the respective district collector’s office.
Coming to the products, Rohit Sharma, Founder, and President, IIHA says one cannot source leaves and flowers while fibre can be sourced directly from local entrepreneurs or the association. Also, when it comes to the products, there are multiple nodal agencies involved depending on what are you planning to manufacture.
Voir en ligne : entrepreneur.com