According to Times of India, the global market for hemp was around $3.9 billion in 2017, and several Indian startups are looking to tap increasing demand.
Bombay Hemp Company produces yarn, textiles, garments and accessories from hemp fiber, as well as hemp oil and protein powder. Company founder Yash Kotak tells Times of India that there is “tremendous potential” in making products from hemp. “For one, India has a solid textile ecosystem, compared to a lot of companies that have legalized hemp, such as Australia and Canada,” he says.
Harshaavardhan Redi Sirupa founded Namrata Hemp Company in 2017 after hemp seed oil healed his infant son’s skin condition. NHCO is developing beauty and skincare products as well as biodegradable packaging from hemp-based cellulose. “With the plastic ban, [hemp] could be the next best alternative,” he adds.