India bans e-cigarettes, tobacco stocks rally

The vape scare continues in the USA. As the Centers for Disease Control launches an 'investigation' into a problem that has obviously been the result of illegal THC cartridges from the start, major news networks put out garbage like this...

The CDC has now activated its Emergency Operations Center to investigate the mysterious illness believed to be related to vaping that has sickened hundreds and claimed the lives of at least seven people.

Here’s everything you need to know about America’s vaping epidemic. pic.twitter.com/V3GJXi1LmZ

— TODAY (@TODAYshow) September 17, 2019

The scare is reverberating around the world, doubtless to the satisfaction of those who have been coordinating it.

Last week, the Australian government seized on the moral panic to justify its antediluvian approach to tobacco harm reduction:

E-cigarettes are relatively new products and further research is needed to understand their long term impacts. However, increasing evidence reinforces the need to maintain, and where appropriate, strengthen the controls.

Who is at risk?

Anyone using e-cigarette products or who is exposed to e-cigarette emissions and/or e liquids is potentially at risk. This includes but is not limited to young people, pregnant women and their unborn children.

The Australian Medical Association has also tried to exploit the US problem to support its ethically and scientifically indefensible position. Its flargrantly dishonest press release mentions neither THC nor the black market.

And today, the Indian government has done what it always wanted to do and introduced prohibition...

The Union Cabinet in its meeting on Wednesday approved the banning of e-cigarettes in the country.

Finance minister Nirmala Sitharaman announcing the ban said that production, manufacturing, import, export, storage, distribution, and transport of e-cigarettes will be banned in the country and an ordinance will be promulgated soon to the effect.

India's parliament is not currently in session so the government - laughably - passed the prohibition as an 'emergency'.

Sitharaman apparently referred to some mythical evidence showing that smokers don't use e-cigarettes as a substitute for cigarettes:

She said that e-cigarettes were initially projected as means to wean away from the practice of smoking. However, reports say that actually e-cigarettes are no longer used as means to wean away from smoking.

 The market knows better, however...

Shares of cigarette maker Godfrey Philips surged 9 percent to Rs 1,023.30 per share on BSE after the government-approved ban. Meanwhile, ITC — whose cigarette division contributes 45.8 percent of total revenue — also gained 1.9 percent to Rs 241.75 post the announcement.

Fancy that.