Cannabis has been used for thousands of years for fun, healing, or religious reasons. It has also been shown to be helpful for a number of medical ailments. Legalizing cannabis is a big part of economic development since it brings in more tax money and creates more jobs. The Cannabis industry is at different stages of maturation throughout the world because of differences in laws and how people feel about Cannabis. Some nations, like Canada and the United States, have completely regulated systems that let people grow, use, and sell different types of cannabis products. In 2013, Uruguay became the first nation in the world to make it legal to grow, sell, and use cannabis. The cannabis business in Canada and the US is growing quickly because both countries have made it legal to consume it for fun. Laws on how to use cannabis might also be different. However, in India, the use, growth, and sale of Medical Cannabis sativa (a form of drug or marijuana) is against the law since it has a lot of THC (a narcotic substance). The Food Safety and Standards Authority of India (FSSAI) made Industrial Cannabis sativa (seed or fiber type) Hemp lawful in 2021. This is the opposite of what happened with other types of cannabis. Cannabis is not legal for medicinal or recreational use in Azerbaijan. In Azerbaijan, both recreational and medicinal marijuana are against the law. In China, marijuana is against the law for both medicinal and recreational use. Because of its recreational usage, there is still a lot of bias in society against medicinal cannabis. But things are changing, and people are becoming less opposed to using cannabis for medical purposes. The Cannabis (Hemp) industry in India is expected to see a big rise in sales, with estimates saying it would reach ₹US$100.80m by 2024. In 2024, the global cannabis industry is expected to make $60.79 billion. The legal marijuana industry throughout the world is estimated to grow at a rate of 18.1% per year and reach USD 73.6 billion by 2027.