Hyderabad: Poverty of farmers aggravated by adverse weather conditions, scarcity of jobs for the youth, and widespread malnutrition were the three major social issues in Telangana, the Bengaluru-based Namrata Hemp Company (NHCO) said in a white paper launched here on Wednesday.
The white paper also suggests that industrial hemp cultivation has the potential to help the Telangana government tackle these issues. It shows how the cultivation of the hemp plant can be a wholesome industry in itself, which can boost the economy of the State and elevate the ability of farmers to revamp their farming process.
Hemp can be capitalised into several industries such as FMCG, textile, real estate, wellness, food, automobile, paper, industrial products and building materials, NHCO said in its white paper. NHCO founder and director Harshaavardhan Redi Sirupa said, “Telangana has the potential to become an eco-friendly State, but for these major issues. With my decade-long research in hemp and its ecosystem, I am confident that the solution is industrial hemp. We envision building 200 industries by the year 2030, resulting in a $ 5 billion industry, which will strengthen the local economy here by providing about 10 million jobs.”
The company plans to establish its first Telangana factory in either Nalgonda or Mahboobnagar district, approval for which was pending from the government. It also plans to collaborate with the agriculture and horticulture departments here in a public-private partnership (PPP) to develop the State-owned barren land and transform it into a productive land through hemp farming.