Subsidiaries

Immediate

holding company

Jurisdiction of

Incorporation

Percentage of holding

as of March 31, 2023

Percentage of holding

as of March 31, 2023

IGCare, LLC

IGC

Maryland, USA

100

100

IGC Pharma, LLC

IGC

Maryland, USA

100

100

Holi Hemp, LLC

IGC

Maryland, USA

100

100

Sunday Seltzer, LLC

IGC

Maryland, USA

100

100

SAN Holdings, LLC

IGC

Maryland, USA

100

100

IGC Pharma SAS (formerly Hamsa Biopharma Colombia SAS) (1)

IGC

Colombia

100

100

Techni Bharathi Private Limited

(TBL)

IGC

India

100

100

India Mining and Trading Private Limited

(IGC-IMT) (2)

IGC-M

India

100

100

IGC Materials Private Limited

(IGC-MPL) (2)

IGC-M

India

100

100

IGC Enterprises Limited

(IGC-ENT) (3)

TBL

Hong Kong

100

100

Hamsa Biopharma India Pvt. Ltd.

IGCare

India

100

100

(1)

Beneficially owned by IGC

(2)

IGC-M, IGC-IMT, IGC-MPL are non-operating subsidiaries that we are in the process of closing and have not been consolidated. These subsidiaries did not have a material impact on the balance sheet or statement of operations.

(3)

Beneficially owned by Techni Bharathi Private Limited (TBL)