Hemp catches Nithin Kamath's attention, Zerodha founder wants to invest in startups working on the humble cousin of marijuana
02-Jun-23 05:31:52
They both look the same but have completely different purposes. Busting the myths surrounding hemp, businessman Nithin Kamath - who recently made it to the 2023 Forbes World's Billionaires List along with his brother and business partner Nikhil, took to Twitter to make more people aware of the humble hemp.
It comes from marijuana's Cannabis sativa family, but has completely different uses and benefits, said the Zerodha founder.
"Hemp belongs to the Cannabis sativa family — the same as marijuana. They look similar, but hemp is versatile and has multiple uses, including as a superfood. It's also good for the planet. Unlike its notorious cousin, hemp doesn't get you high. Partly why it isn't popular," he wrote in his caption.
Kamath tried to help people shun the myth surrounding hemp with a detailed chart by United Nations Conference on Trade and Development.
"Because they look alike and come from the same family, hemp is often mistaken for marijuana, which is one reason why it isn't mainstream," Kamath shared in a series of tweets.
Sharing the difference between the Cannabis cousins, Kamath shared a colourful and informative chart.
While hemp is non-psychoactive, loosely regulated and legal in most countries, the chart said that marijuana is psychoactive, well-regulated and illegal in most countries. Hemp is grown taller with more fibres, and the psychoactive plant is bred to grow wild with more flowers.
Kamath, who was in process of investing in start-ups that have been working on hemp, took some time off to research the organic product. "I learned about hemp when evaluating a startup working on hemp protein. We're now convinced about allocating capital to startups working on hemp, but we're also seeking regulatory clarity," he added.
The Food Safety and Standards Authority of India (FSSAI) has approved the consumption of hemp seeds, but the notorious cousin (marijuana) and the tainted family are bound to create issues, said Kamath.
"Some states, like Uttarakhand, are working on a policy on hemp. It will be awesome to get input from anyone who has spent time on this," he concluded.
Capitalmind founder and CEO Deepak Shenoy jumped to marijuana defence, aka the notorious cousin.
In his reply, he said that the "notorious cousin is a huge medicinal benefit for certain things. Such as fibromyalgia which I'm seeing first-hand in the family being hugely benefited by cannabis-based treatments."
Meanwhile, Harvesting Farmer Network Founder and CEO Ruchit G Garg said that he was a daily consumer of hemp as a natural protein source and there's a "huge opportunity" in the businesses surrounding the natural product.
"There are also massive medicinal opportunities in legalising n regulating leaves with THC - even if it’s for recreational purposes, it’s better than synthetic alcohol, so much better for smallholder farmers n overall economy of far-flung states like Manipur," he tweeted.
Another user said that hemp-based apparel sell for a premium price in developed countries for their anti-bacterial properties, a prospect that hasn't been explored much, yet.
SOURCE & CREDIT: THE ECONOMIC TIMES