India, America & the business of marijuana

Wherever new markets open up, trust intrepid Indian entrepreneurs to wade in. Many American states have legalised the use of marijuana with a medical prescription and two now allow it for recreational use. This has led to hopes that, soon, cannabis will be legalised across the US. Some analysts expect the market to grow to as much as $1.7 billion, prompting two Indian entrepreneurs to team up and form a consultancy to advise budding ganjapreneurs. This is good news. Evidence from Europe, where beer and wine are relatively cheap, shows that people prefer these to stronger spirits. In India, costly beer and wine have driven consumers to guzzling spirits. Similarly, the legalisation and availability of weed could drive a lot of hard drugs off the streets. This, in turn, could vastly reduce crime. It could also create the conditions for a legitimate business to grow overnight.

 

Full Article:

http://economictimes.indiatimes.com/opinion/editorial/india-america-the-business-of-marijuana/articleshow/19284364.cms