Hemp Economy and Atmanirbhar Bharat
A new India is in the making, and we at Himalayan Hemp want to be there to ensure that every Indian is physically healthy and mentally strong.
Cannabis has helped in the advancement of civilizations across the world. It was used widely for like mostly purposes which even cotton cannot. Extensive research conducted results show that industrial hemp has the potential to change entire industries for the better.
Over the centuries, Indian monks living in the Himalayan mountain range have received the benefits of this rare strain of Hemp, which increased their life-span and helped them achieved a heightened state of mental awareness. Consumption of hemp in India can have a greater impact economically on the nation that such production has had in other developed countries. We know India is a developing country where successful start-ups to develop new industries will rise much of the economy with greater vigor.
Colonial forces damaged our heritage, and Hemp products were hidden from city dwellers. We understand the power of Hemp and the role it can play in improving our everyday lives naturally.
‘Atmanirbhar bharat’ for hemp market
Long before Prime Minister Narendra Modi's voiced it out loud — Himalayan Hemp Organisation has always believed in the power of local. In a bid to stimulate and strengthen the Indian economy amidst the nationwide lockdown to contain the coronavirus pandemic, the Government of India rolled out an economic package named the Atmanirbhar Bharat Abhiyan.
A land where hemp was a basic part of society, hemp is now being rediscovered and being put to use to promote new industries in India. Governments are framing laws related to industrial hemp under the state law and are taking further positive steps to promote the cultivation of hemp not to import from other countries. The hemp industry has a different potential to rise in the growth of various markets and actually, this is the main motive of this Abhiyan.
Firstly the Uttarakhand government has taken an initiative to reframe its policy and has issued the first-ever hemp cultivation license. Numbers of farmers and some groups are supported by the Uttarakhand government and by private peoples who aims to the advancement of the size and scope of the industry like us. Notably, it is calculated approximately that annual revenues from Hemp textiles in Uttarakhand will equal 240 crore rupees, and a farmer who grows hemp will earn approximately 1 lakh rupees annually from the sale of hemp and it is projected only for textile-based industries, not others. Hemp cultivation is all the more attractive because hemp can grow on barren land and requires little resources including water to cultivate.
Industrial Hemp market
The global industrial hemp market is a sign of a healthy industry, owing to the use of the product in more than 25,000 products across about nine sectors, including food and beverage, textile, paper, construction, personal care, furniture, and automobile. Industrial hemp is an annual plant and almost every part of the plant, such as seed, stalk, and the flower is useful in a large number of applications. It is largely grown for food & beverage as well as non-food-based products without the use of toxic chemicals, herbicides, pesticides, and fertilizers. It is a fast-growing plant, offers us a very beneficial to environment very efficient raw material for the production of various products such as plastic, paper, and fuel.
This dominance is attributed to the extensive production and consumption of hemp products in the industry. The booming market for such products can increase the market growth.
Discussing some tremendous range of product markets which we can establish and give a share to the economic growth:
A Tough fiber, the stem of the industrial hemp plant can be used to create tough fibre while rural women living in the villages of the Himalayan region have been doing so for decades. Today science also proved that hemp will be a superior fiber and the hemp industry is playing a key part among peoples has the revolutionary potential of hemp fibre. Hemp fibre has anti-microbial, anti-fungal, anti-inflammatory potential (to a certain extent), and the fabric produced from hemp is soothing, soft, and comforting to the touch.
Quality papers: Hemp grown on 1 acre of land can produce as much paper as can be produced from 4 acres of trees. Need great efficiency in producing paper of the hour because trees on thousands of lands are felled each year to produce paper. Hence instead of felling millions of trees, hemp will be a better choice to cultivate and used to produce paper.
One more reason, that particular manufacture paper is that made from hemp fibre can be the recycling process goes up to 8 times, and paper manufactured from wooded trees can only be recycled 3 times. Hence You can see a major difference not only can a single acre of hemp produce 4 times as much paper as an acre of trees, but such paper can also be recycled many more times. Production of hemp leads to the best utilization of natural resources and more prosperity in society as well.
CBD oil, hemp oil is projected to be the fastest-growing type, owing to its role in preventing conditions such as anxiety, depression, pain, and acne. Furthermore, the growing application of CBD hemp oil in the health supplement and food & beverages is expected to drive the market for this type.
Body care, market size from the personal care applications market may register gains at over 6% during the forecast period. Hemp oil is widely used in personal care products & cosmetics in the formulation of skin & hair care products, shampoos, soaps, and bath gels on account of high omega-3 fatty acids content.
As Super food, hemp is considered by many to be a ‘super food’. It’s a combination that bodes well for diner interest, with sustainable and healthy choices now crucial menu inclusions. Food is unique, I can’t say it tastes like anything else, but it is similar to other fatty seeds and nuts. It’s a new taste, but it’s very versatile.
The growth of this market is attributed to the increased consumption of hemp-based products due to their various benefits and problem-solving use. However, it has been expected to increase the demand in the coming years.
The Economic Share
According to the reports, the total economic value of hemp cultivation (each crop) could be Rs 3.75 lakh per hectare. The actual value, however, remains not known as the process of seeds and flowers is yet to be permitted.
If we all together take part in these markets and by raising awareness and increasing demand for hemp products in the future more states will legalize industrial hemp and will grow the economy of our country as well.
Retailers taking part
Many retailers for natural supplements are expecting the use of CBD on their shelves.
“Because of the tremendous range of products in which CBD is a fit, we expect to see it on shelves, literally, everywhere. Wholesale order numbers are climbing dramatically, which is one of the first signs of significant market expansion. When we started, we were taking orders for small companies ordering 500 units at a time. Large company orders are projected to reach 100,000+ units in the next 18 months, which is going allow wholesalers like Hemp Depot to manufacture products on a larger scale, thereby reducing CBD product prices by the end of 2020 to a forecasted $20 to $30 as with standard vitamin supplements,” said Andy Rodosevich, CEO and co-founder of Hemp Depot.
In July 2019, adding to the momentum, Toronto-headquartered Abacus Health Products announced new retail purchase orders from CVS for its line of CBDMEDIC pain relief and skincare products, sold to consumers via retail chains and the company's e-commerce platform.
“We are encouraged to see the continued interest and growth in CBDMEDIC among leading retailers throughout the United States. In particular, the fact that CBDMEDIC products are now being positioned in-line demonstrates the acceptance of our over-the-counter products within the traditional pain relief and skincare categories and we look forward to seeing the continued growth in the number of retail locations in which CBDMEDIC is available," said Perry Antelman, the CEO of Abacus Health Products, maker of CBD CLINIC and CBDMEDIC.
CBD in retail is becoming more prevalent and many companies are struggling with the regulatory implications. As consumers continue to explore this new trend, retailers can assess their current regulatory and quality strategies to identify potential areas of risk and shore up potential problem areas.
Additionally, the Culture of India has a close relationship with cannabis and cannabis-based products could easily make revenue. One of the beneficiaries of greater exporters will be the farmers who cultivate hemp. India will be able to develop this relationship and gather the benefits of a higher personal income also impacting well on the Indian economy.
Indian companies are also putting substantive efforts in establishing a value chain for the development of Cannabis-based products in India but it will take time for the Indian industry to adapt and create goods that meet global standards, yet Indian farmers have a precious relationship with the soil that is almost absent among farmers from other countries. We envision a time when India occupy a progressive sentiment with Hemp shortly, for a plethora of industries and applications.
‘Vocal for Local’ is a concept which dates back to the era of the Swadeshi movement which started in 1905 as part of the Indian independence movement. As part of an economic strategy, it helped develop Indian nationalism at the time.
Cannabis is as old as the planet itself. A plant used by our wise elders to deal with almost every medical ailment somehow got lost after colonization. Our mission at Himalayan Hemp organisation is to establish Indigenous hemp as a viable and profitable crop. We believe in the goodness of plants, and we have made it our goal to create a healthy India by reclaiming our ancient culture and customs and rebranding it to suit modern times.