India: Uttarakhand will soon launch its hemp policy

Uttarakhand can come out with its hemp policy soon. If media reports are to go by, the initial draft of the hemp policy is ready and has been sent to the legal department. The draft will be soon sent to the state cabinet for approval. The final policy will be launched in 2023.

The policy is expected to attract huge investment in the state as textile giants like Aditya Birla Group are also interested in hemp.

Uttarakhand has few but very good factories of apparel and textile products.

Similarly, the global Hemp fibre market size is valued at US $ 4.46 billion in 2021 and is projected to reach US $ 43.75 billion by 2030, growing at a CAGR of 33 per cent from 2022 to 2030.

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