Business Wire India
The MoU was inked by Mr. Harisharan Devgan, Chairman, Niche Group of Companies, and Prof. Abhay Karandikar, Director, IIT Kanpur in the presence of esteemed Senior Professors, Researchers, and other faculty members. The collaboration between Niche Agriculture & Pharmaceuticals Limited and the Indian Institute of Technology Kanpur is laying a foundation to restructure the indigenous cannabis plant and develop new varieties of hemp seeds/cultivars as per international policies & standards.
With time, India is facing a surge in chronic medical conditions like cancer, epilepsy, migraine, chronic pain, arthritis, and insomnia to name a few. The development of new Hemp based formulations will help doctors in the treatment of such severe medical conditions.
Commenting on the MoU, Niche Agriculture & Pharmaceuticals Limited Chairman, Mr. Harisharan Devgan quoted, “This cooperation with IIT-Kanpur will strengthen our goal to toil towards the exploration of Cannabis plant for the progression of healthcare sector. This collaboration will not only grant access to a whole new range of medicinal formulations, but it will also offer people affordable medical treatment for chronic health problems. We are focusing on improving cooperation in the field of Hemp Cultivation and Bioengineering and implement technics like tissue culture with IIT-Kanpur for research and development, and exchange academic materials and publications for the formulation of hemp-based and other medicines for chronic diseases.”
Abhay Karandikar, Director of IIT-Kanpur said, “He is looking forward to this collaboration. He further added that it will lay down a foundation for better research and development in Biotech Industry. Cannabis has been widely accepted in Indian culture through the ages, yet we have limited knowledge about this holy plant. Cannabis is known for its medical benefits, still, it is facing massive criticism due to its intoxicating effects.”
Cannabis in India is being used for more than 5000 years and has also been mentioned in Atharva Veda. Still, cannabis has faced a lot of backlash due to its mind-altering effects. However, the cannabis plant is also acknowledged for its magical properties. In various cultures and traditions, the use of cannabis is common and its medical properties are also well inscribed in Ayurveda. Yet as per government regulations, cultivation of cannabis having more than 0.03% THC level is barred across the world.
Niche Agriculture & Pharmaceuticals Limited is inclined to research new medicinal formulations for helping the Indian healthcare sector to keep evolving. The MoU also focuses on the exchange of academic materials and publications and extends to formulate hemp-based and other medicines for chronic diseases.
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