Yes, I like personal freedom too. But, humans are too human to be given absolute freedom.
Of course, doing drugs is against the law - and not just in India. Rightly so. It doesn't harm just one person. These drugs provide mind-altering experiences - some permanent. They hamper judgement and rational thinking. That is a fact. Now, if such an individual starts behaving erratically, ignoring his well-being, his social obligations (as a child to his parents or as a parent to his children, just to keep it to the family), setting out on a slow but steady path of destruction, how is not government's business to intervene. Can individual families go about checking drug distribution? Or will market forces and profit motive come together to stop it?
Another case in point is this. Lets say, it is decided that government shouldn't intervene on issues of incest. And the inbreeding causes kids to be mentally and physically retarded. Who is to blame? These bro-sis couple doesn't even have an iota of guilt. Probably, did a lot of drugs as kids.
Profitability is a innocous word which masks the underlying greed. People are greedy. They keep wanting more. Even by defrauding others - the interests may not be harmed in an obvious way (global warming for example).
What if, a hundred people have to die as a consequence of personal freedom (oh, lets say, young rebels out on a rave party - with drugs coming from a Nigerian who provided spurious heroin some time back).
This personal freedom for unadulterated greed, and manic recklessness has to be checked. Don't get me wrong. I am all for dirt-biking with helmet on.