New Delhi-based cannabis-focused healthtech startup HempStreet claims to be one of India’s first research to retail ventures in the ayurvedic cannab

HempStreet Bets High On India’s Medical Cannabis Potential With Eye On Blockchain

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2020-07-18 06:11:01

New Delhi-based cannabis-focused healthtech startup HempStreet claims to be one of India’s first research to retail ventures in the ayurvedic cannabis sector

The startup is looking to leverage blockchain to track its production chain from sourcing to manufacturing and distributing to clinics

It’s hard to believe that just over three decades ago, Indians could legally consume marijuana and all its derivative products. But how the world has changed since then that not only has cannabis been banned for consumption, but now it’s making a roaring comeback.

Till 1985, cannabis was legal and was widely accepted in India. But the so-called war on drugs by the US forced many of its allies to blacklist cannabis. India’s Narcotic Drugs and Psychotropic Substances (NDPS) Act brought a complete ban on the sale and purchase of cannabis in India. But many say India is sitting on top of an untouched gold mine. Not only does the country have a storied ritualistic tradition revolving around cannabis, but cannabis indica, one of the two primary species in the cannabis family, is named for its prevalence in India.

Naturally, legalisation of cannabis has been a hot topic of debate for many years in India now, and many have questioned the logic behind the prohibition. But while consumption of marijuana through smoking or edibles is prohibited, cultivation of hemp and cannabis for industrial and medicinal purposes has been legalised.