Business
Supply concerns overhang New Jersey recreational cannabis market
Despite a relatively smooth start to recreational cannabis sales in April, industry officials in New Jersey continue to fret over possible supply shortfalls that could disrupt the East Coast’s newest adult-use market.
Some, in fact, argue the supply crunch has arrived. Industry officials have already reported long lines at dispensaries and low supplies of concentrate-infused products.
“At this point, New Jersey has been rapidly depleted, and I don’t see a whole lot of other grows,” said Steve Schain, a New Jersey-based cannabis attorney with Smart Counsel.
“Opening a dispensary is one thing, but opening a grow is quite another, which is what we need to have.”
According to industry officials, prospective growers face a host of obstacles that are crimping the flow of marijuana to retailers, including:
- Pandemic-related delays in the licensing process.
- Resistance to the industry at the local level.
- Difficulties securing real estate.
- The months it takes to plant and grow cannabis.
- Global economic issues such as inflation and supply-chain problems that are slowing construction of new cultivation facilities – and making them more expensive.
“We are going to be in a bottleneck anywhere from the next maybe six to 12 months, maybe even longer,” said Robert DiPisa, co-chair of the cannabis practice at New Jersey-based law firm Cole Schotz.
The prediction comes as the state’s marijuana supply chain ramps up to meet strong consumer demand in what is forecast to become one of the nation’s largest adult-use markets.
The 2022 MJBiz Factbook projects the New Jersey adult-use cannabis market will generate $625 million-$775 million in retail sales this year and will grow to $2 billion-$2.4 billion by 2026.
Small number of cultivators
Seven of New Jersey’s 13 existing medical marijuana cultivators were permitted to sell adult-use products on the promise that MMJ patients would be prioritized if supply runs low.
Regulators, however, believe that promise hasn’t always been kept.
Five of the seven were recently fined for selling adult-use products during hours reserved for MMJ patients.
From the start, the market has faced concerns over whether growers could serve the state’s 127,708 medical cannabis patients (as of April) without disrupting recreational supplies.
The seven licensees – operating out of 13 retail storefronts – continue to account for all the state’s adult-use sales.
At the same time, legal wrangling has contributed to concerns over the ability of adult-use growers to meet demand.
In February 2021, a New Jersey appellate court lifted a 2019 order that had prevented the state from issuing additional medical cannabis licenses.
But that 1½-year delay threw a wrench into plans to expand the state’s supply of medical cannabis.
According to DiPisa, many would-be cultivators lost or sold their properties when the court order was in place.
“We were supposed to have all these other medicinal cultivators online that would have been contributing to the supply chain for the medicinal market, which would free up more breathing room for the existing (cultivators) to supply more to the adult-use market,” DiPisa said.
Edmund DeVeaux, president of the New Jersey CannaBusiness Association, told MJBizDaily that options are available to get more cultivators online if need be.
“We are definitely moving towards making sure that there are cultivators that are up and running sooner rather than later,” DeVeaux said.
According to DeVeaux, the New Jersey Cannabis Regulatory Commission (CRC) can get creative with licensing to prevent supply shortages, if necessary, by issuing conditional or annual licenses.
“I would hope that the CRC would take steps if need be to make sure that maybe not just conditional licenses are awarded, but that conventional or annual licenses are awarded, in order to address what could happen,” DeVeaux said.
But Schain contends that many of those conditional licenses were issued to businesses that do not have a realistic possibility of becoming operational.
“The Cannabis Regulatory Commission dawdled in trying to please everyone. Between October 2021 and the present, a shocking number of licenses were issued to grow, process and dispense cannabis,” Schain said.
“Many of these are conditional. The provisional licensees lack financing and industry know-how to put product on shelves.”
As of June, 148 conditional licenses had been issued, according to the latest state data.
Existing cultivators have also expanded to meet demand, including Verano Holdings, an Illinois-based multistate operator that owns three medical marijuana dispensaries and a cultivation facility in New Jersey. (In New Jersey, MMJ dispensaries are called alternative treatment centers, or ATCs.)
“After we acquired our 120,000 square foot New Jersey cultivation and processing facility several years ago, we immediately began construction to turn the formerly vacant retail superstore into a state-of-the-art operation that has enabled Verano to expand capacity, streamline operations, and increase our output in anticipation of the initiation of adult-use sales in the state,” Aaron Miles, Verano’s chief investment officer, told MJBizDaily via email.
Property problems
On top of the limited number of operational growers, municipalities in New Jersey can choose to opt out of allowing cultivation sites within their borders, making it difficult to secure a grow property.
In April, MJBizDaily reported that roughly 70% of municipalities initially opted out of recreational marijuana sales and those that are participating will decide where and how many local licenses to award.
Existing medicinal cultivators can convert their businesses to sell for the adult-use market as well, but such a move requires going through additional red tape.
“They have to go through an approval process with the municipality and make sure the municipality is OK with them selling adult-use (products) as well,” DiPisa said.
“That has delayed a number of the ATCs from converting to the adult-use market.”
Source: https://mjbizdaily.com/new-jersey-recreational-marijuana-retailers-fear-supply-shortages/
Business
Jio’s 1,600-Satellite LEO Constellation Gets Technical Green Light
Reliance Jio has crossed a significant milestone in its space connectivity ambitions after its proposal to deploy a Low Earth Orbit (LEO) satellite constellation of around 1,600 satellites received a positive technical assessment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
The evaluation, conducted jointly by IN-SPACe, the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination (WPC) wing of the Department of Telecommunications, reportedly concluded that Jio’s proposed system meets the required technical standards and is comparable to leading global satellite broadband networks.
India’s Indigenous LEO Satellite Vision
Under the proposal, Reliance Jio plans to deploy between 1,600 and 1,650 satellites in Low Earth Orbit at an altitude of around 650 kilometres.
The planned constellation is expected to provide high-speed satellite connectivity across India, with approximately 32 satellites visible from any location at a given time. The company aims to roll out the network within the next two to three years, subject to regulatory approvals.
According to industry estimates, the satellite system could deliver 4.5 to 5 terabits per second (Tbps) of total data capacity, making it one of the largest satellite broadband projects proposed in India.
The project is expected to require an investment of $10–15 billion (approximately ₹95,000 crore to ₹1.42 lakh crore), reflecting the scale of infrastructure needed for satellite manufacturing, launches, ground stations, and user terminals.
Regulatory Process Moves Forward
Following the successful technical review, the proposal is expected to move into the next phase of regulatory approvals.
The government may now assist Jio in securing orbital slots, coordinating spectrum usage, and filing applications with the International Telecommunication Union (ITU), the global body responsible for managing satellite orbit and frequency allocations.
Obtaining orbital rights remains a critical step, as Low Earth Orbit has become increasingly competitive due to the growing number of satellite broadband projects being planned worldwide.
Officials also indicated that the proposed satellite architecture has been designed to coexist with future Indian LEO constellations, allowing multiple domestic operators to share orbital resources efficiently.
Broadband, Mobile Connectivity, and Strategic Applications
Jio plans to use the satellite network to provide a range of communication services, including satellite broadband, mobile backhaul, enterprise connectivity, and direct-to-device (D2D) satellite communication, particularly in remote and underserved regions where conventional telecom infrastructure is limited.
The company also intends to establish 20 to 22 ground stations across India to support network operations.
Apart from commercial telecommunications, officials have highlighted the project’s potential strategic importance. A domestically developed satellite constellation could strengthen India’s communication infrastructure, reduce dependence on foreign satellite operators, and support national security requirements.
Reports suggest preliminary discussions are underway regarding the possibility of integrating defence-related payloads into some satellites, enabling both civilian and strategic use.
Major Step for India’s Space and Telecom Sectors
Industry analysts view the technical clearance as an important milestone in India’s expanding private space ecosystem. If Jio secures the remaining regulatory approvals and international orbital clearances, the project could become the country’s first large-scale indigenous LEO satellite broadband network.
The initiative also aligns with India’s broader efforts to expand digital connectivity while strengthening its presence in the global satellite communications market.
Business
Alleged Crores Pharma Scam Mastermind Arrested from Surat
After evading law enforcement for nearly 13 years, an accused linked to a large-scale pharmaceutical fraud case has been arrested by Delhi Police from Surat, Gujarat. The suspect is alleged to have orchestrated a series of financial scams involving fake identities, forged documents, and dishonoured cheques used to procure high-value pharmaceutical raw materials.
Authorities say the accused, identified as Himmat Singh Lodha, is believed to have defrauded multiple pharmaceutical companies in Delhi of goods worth approximately ₹98 lakh before disappearing and remaining underground for years.
Fake Business Deals and Dishonoured Cheques Used in Fraud
Investigators claim the accused posed as a legitimate pharmaceutical trader and placed bulk orders for expensive drug ingredients, offering post-dated cheques as payment security.
In one documented case from 2013, he allegedly obtained around 550 kilograms of Gliclazide, a diabetes-related pharmaceutical ingredient, valued at over ₹26 lakh. When suppliers attempted to encash the cheques, they were reportedly returned with the remark “account closed.”
Following the transaction, the accused allegedly vacated his office and rented residence and disappeared without settling payments. He was later declared a proclaimed offender in 2016 after repeatedly failing to appear before court proceedings. Authorities had also issued a reward for information leading to his arrest.
Multiple Identities and Repeated Fraud Pattern
Police investigations further link the accused to another cheating case dating back to 2012, where he allegedly used a fake identity, “Kailash Jain,” to obtain a large consignment of Ambroxol HCL, a pharmaceutical compound used in cough medications. The value of that consignment was estimated at around ₹72 lakh.
Officials believe the accused followed a consistent modus operandi—posing as a credible businessman, securing high-value goods on deferred payment terms, and then disappearing after delivery while shutting down business operations.
Investigators suspect that forged business records, fake company credentials, and fabricated financial histories were used to build trust with suppliers and gain access to expensive raw materials.
Multi-State Surveillance Leads to Arrest in Surat
A special Crime Branch team tracked the accused through coordinated surveillance efforts across multiple cities, including Mumbai, Ahmedabad, and Surat. After nearly a month of technical monitoring and intelligence gathering, officials located and arrested him from a residential area in Surat.
Authorities also revealed that the accused had been involved in property-related activities while staying under the radar to avoid detection.
Growing Threat of Corporate Identity Fraud
The case highlights a rising trend of organised financial fraud targeting industries that rely heavily on trust-based transactions and deferred payments. Experts note that criminals increasingly exploit gaps in corporate verification systems by using fake GST registrations, temporary offices, and forged documentation to appear legitimate.
Cybercrime and financial fraud specialists warn that such schemes are becoming more complex with the widespread availability of digital business tools, making it easier to create convincing but fraudulent corporate identities.
Experts Urge Stronger Due Diligence in High-Value Transactions
Experts, including former IPS officer and cybercrime specialist Prof. Triveni Singh, emphasize the need for stricter verification procedures in commercial dealings. He noted that relying solely on paperwork or digital business profiles can expose companies to significant financial risk.
Authorities and industry experts recommend physical verification of business operations, bank account validation, and detailed background checks before engaging in high-value or deferred-payment transactions—particularly in sectors like pharmaceuticals, where single consignments can involve transactions worth crores.
Business
EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices
A growing coalition of European industry groups is intensifying pressure on regulators to take decisive action against Google over allegations of unfair search practices that could reshape competition rules across the region’s digital economy.
Investigation Under Digital Markets Act Gains Momentum
The case is being examined by the European Commission under the European Union’s landmark Digital Markets Act (DMA), introduced to curb the dominance of major technology platforms and ensure fair competition.
Launched in March 2024, the investigation focuses on whether Google has been prioritising its own services in search results, potentially disadvantaging rival businesses that rely on online visibility to reach customers.
Industry Groups Demand Swift Action
Several prominent European organizations have jointly urged regulators to conclude the probe without further delay. They argue that prolonged investigations allow alleged anti-competitive practices to continue, putting European companies—especially startups—at a disadvantage.
Signatories include the European Publishers Council, the European Magazine Media Association, the European Tech Alliance, and EU Travel Tech.
In a joint statement, these groups warned that delays in enforcement are affecting innovation, profitability, and growth prospects for regional businesses competing in digital markets.
Google Denies Allegations
Google has rejected claims of bias, stating that its search algorithms are designed to deliver the most relevant and useful results to users. The company has also proposed adjustments to address regulatory concerns.
However, critics argue that these changes are insufficient and fail to address the core issue of market dominance.
Potential Billion-Euro Penalties
If found in violation of the DMA, Google could face significant financial penalties. Under EU rules, fines can reach a substantial percentage of a company’s global turnover, potentially amounting to billions of euros.
Regulators may also impose corrective measures requiring changes to business practices, which could have long-term implications for how digital platforms operate in Europe.
Wider Implications for Big Tech
The case highlights ongoing tensions between European regulators and major U.S. technology firms. In recent years, the EU has taken a more aggressive stance in enforcing competition laws, aiming to create a level playing field for local businesses.
A final ruling against Google could set a major precedent, influencing future enforcement actions and shaping the regulatory landscape for global tech companies operating within Europe.
As scrutiny intensifies, the outcome of the investigation is expected to play a critical role in defining the future of digital competition across the European Union.
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