With countries like Canada legalizing cannabis and US states’ allowing medical uses, according to industry estimates Cannabis sales could touch $15 billion in 2019 globally and in another 10 years, the market could be worth $ 60 billion.
If India decides to legalize cannabis, the country will not just tap this opportunity but also find solutions to the agrarian crisis while creating jobs and increasing its revenue.
Grand View Research, in its report, notes the legalization of medicinal marijuana and decriminalization in some countries has led to a significant decrease in the black market, as people are resorting to legally purchasing cannabis for medicinal as well as recreational use.
“Moreover, government earnings through taxation is further viewed as an opportunity for countries to earn revenues. Presence of a large customer pool and legalization of medical marijuana in the U.S. and Canada is expected to propel the product demand from North America,” the report added.
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