Cultivating Success: The Trailblazing Trio Behind India’s Hemp Revolution

In the emerging landscape of India’s hemp industry, Siddarath Ahuja, Chirag Tekchandaney, and Yash Kotak stand out as visionary leaders, driving the hemp revolution forward. As co-founders of Bombay Hemp Company (Boheco), they navigate challenges, advocate for regulatory change, and pioneer ground-breaking initiatives that promise to reshape India’s role in the global hemp market.

Boheco, founded by Chirag Tekchandaney and Yash Kotak, has been at the forefront of India’s hemp movement. Backed by investors like Siddarath Ahuja, the company aims to mainstream hemp in agriculture and sustainable living. Despite facing challenges such as restrictions on e-commerce platforms, Boheco has played a pivotal role in the evolution of the Indian hemp industry.

The co-founders, driven by a vision to unlock the immense potential of hemp, have collaborated with research institutions to institutionalize ground-breaking cannabis breeding projects. These projects, focused on industrial and medicinal purposes, aim to standardize genetics and gain regulatory approval for hemp cultivation in India. Siddarath Ahuja, as one of the investors in Boheco, brings strategic insight and support to the company. His commitment to the hemp movement reflects a broader shift in awareness about the plant’s diverse applications in industries like pharma, nutraceuticals, fiber, and construction.

Ram Vishwakarma, ex-director of CSIR-Indian Institute of Integrative Medicine, emphasizes the need for amendments to the central Narcotic Drugs and Psychotropic Substances Act (NDPS Act) and the formulation of state-specific rules. These changes are crucial for facilitating licensed cultivation, processing, research, inter-state transport, and export of hemp and its value-added products. While a few states have taken progressive steps, the regulatory environment remains a challenge for startups in the hemp space. The trio at Boheco continues to advocate for legislative changes that would propel India’s hemp industry into a position of global significance.

Another player making waves in the Indian hemp scene is Hemp Horizons, co-founded by Rohit Shah, Kartikey Dadoo, and Kanishk Yadav. This seed-processing company, certified for Good Manufacturing Practices (GMP), recently secured Rs2 crore in seed funding from Mumbai Angels Network and AngelList. The founders of Hemp Horizons encountered hurdles in marketing, with social media platforms restricting the use of terms like ‘hemp’ and ‘cannabis.’ Overcoming misconceptions about the psychoactive properties of hemp, they emphasize its nutritional benefits, contributing to the plant’s gradual acceptance.

The startup also faced challenges in establishing a stable supply chain, requiring extensive trips to Uttarakhand to engage with farmers and agricultural co-operatives. Despite initial difficulties, the company has achieved year-on-year growth exceeding 35 percent since its inception in 2017.

Investors like Abhishek Nag, director of business development at Netflix, are recognizing the wellness benefits of hemp. Nag, who recently became an angel investor in Hemp Horizons, sees the increasing acceptance of hemp products globally and expects investors to identify the immense potential in this space.

The global industrial hemp market, valued at $4.6 billion in 2019, highlights the vast opportunities for growth. In India, the market stands at an estimated $1 million, signalling significant untapped potential. Nag expresses optimism about India reclaiming its position as a global centre for excellence and trade in all hemp products.