Business
With cannabis cultivator cap lifted, growers face New Jersey’s challenges
New Jersey is no longer limiting the number of cannabis cultivation licenses, and entrepreneurs are looking forward to supplying the East Coast marijuana market as production ramps up.
However, up-and-coming growers in New Jersey face significant obstacles, including:
- A majority of municipalities that have opted out of permitting cannabis businesses.
- A competitive market for limited, expensive industrial real estate.
- Challenges raising capital in a tough lending environment.
For cultivators who can overcome those headwinds, an attractive market awaits.
Will Perry, CEO of Oregon cultivator Magic Hour Cannabis, is working to launch production in New Jersey, teaming up with local partner Jersey Shore Ventures Group, which has access to the necessary real estate.
Oregon marijuana prices have crashed, with the median wholesale price hitting $599 per pound in February.
In New Jersey, however, Perry expects premium marijuana could earn at least $4,500 per pound.
“I don’t know anywhere else where there’s such a high population,” he said, “and also factoring in people from New York, also bordering states like Pennsylvania, there’s 30-plus million (people).
“And these are all people that have more expendable income than the average person in Oregon.”
Cultivator cap dropped
New Jersey’s two-year cap that limited cultivation licenses to 37 was included in legislation enacted in 2021, although the restriction didn’t apply to micro-cultivators.
The state’s adult-use cannabis market launched in April 2022 with only seven cultivators supplying 13 adult-use retailers.
Amid industry concerns over limited supply, the New Jersey Cannabis Regulatory Commission (CRC) decided not to renew the cap when it expired in February.
CRC Executive Director Jeff Brown told MJBizDaily that decision was made, in part, “because there’s plenty of room in the market for more cultivation.”
Brown said New Jersey has far fewer than the average number of cultivation licenses found in other states where adult-use marijuana is legal.
“The market has a long way to grow here; all indicators show that we need more cultivation here,” he said.
The CRC reported 415 cultivation license applications as of Feb. 13, according to information posted for the agency’s March public meeting.
As of March 14, New Jersey had 17 operational cultivators and 25 annual licensees “on their way to becoming operational,” according to a CRC spokesperson.
‘Everything just gets better with more competition’
New Jersey CannaBusiness Association President Edmund DeVeaux said the state’s medical marijuana patients already expressed “concerns, if not complaints, about quantity and quality.”
“So now that we have an adult-use industry on top of our medical industry, those concerns, those criticisms continue,” he said.
DeVeaux is hopeful that new cultivation facilities will come online this year, especially with the availability of microbusiness licenses for smaller growers.
“It might be a little bit easier and a quicker time from seed to sale, by using the micro-licensing category,” he said.
Darrin Chandler Jr., co-founder and president of conditionally licensed New Jersey cultivator and manufacturer Premium Genetics, said retailers tend to have the same products from the same small group of operational growers.
“By us getting more cultivators online, we’re going to get a robust market, you’re going to have more competition, you’re going to have a better quality,” he said.
“Everything just gets better with more competition coming to the market.”
Difficult business conditions
Would-be cultivators face several converging business challenges in New Jersey.
Raising capital for marijuana is tough there, just as in other states.
On top of that, New Jersey’s local governments have significant powers, and many municipalities have opted out of hosting cannabis businesses: According to the CRC, 179 municipalities had opted in and 380 had opted out as of March 14.
That complicates the search for cultivation and manufacturing space in New Jersey’s tight industrial real estate market.
Premium Genetics’ Chandler said finding industrial real estate is “almost impossible,” and prices are “astronomical.”
Some property owners don’t want to work with the marijuana industry “simply because of the federal laws, (and) that makes the available real estate even slimmer,” said Brown, the state cannabis chief.
“We are seeing conditional license holders who are having trouble converting to annual licenses for that simple fact.”
Shergoh Alkilani, co-founder and chief operating officer of cultivation annual licensee ElevenEleven Wellness, believes there’s lots of room for new cultivators in New Jersey.
However, he believes that even with a conditional license, a secured property and local approval, some aspiring cultivators will “still have to come up with another $15 million or $20 million … I feel that what’s going to happen is that there’s going to be a flood of licenses issued, and then there’s going to be many that don’t open.”
Lifting the cultivation license cap “is good for the New Jersey cannabis economy,” Alkilani said.
“I think there’s just an incredible amount of demand, consumers are feeling like they’re stuck with somewhat secondary product because all the real top-tier stuff gets sold out so quickly …
“I just hope that the state could really help people get open and be able to survive long term.”
John Ng, president of conditional cultivation licensee Aeterna, also expects that not all of New Jersey’s up-and-coming cultivators will actually be able to turn their conditional licenses into the annual licenses needed to start operations.
“It’s going to be entirely the availability of industrial real estate in friendly towns,” he said.
Aeterna owns its property, but Ng said obtaining local approvals and zoning has been challenging.
“I think that the CRC is doing as best as they can – they can’t magically make real estate appear out of nowhere,” he said.
Avoiding the oversupply trap
It’s not unusual for new adult-use marijuana jurisdictions to face production shortfalls.
But as more cultivators rush to come online, New Jersey could eventually face the dilemma seen in some other, more mature state marijuana markets: Too much cannabis supply puts downward pressure on prices, especially without the release valve of interstate commerce.
For New Jersey, that risk looks far off.
“I’m not saying that going at a deliberate pace doesn’t come with its challenges,” the CannaBusiness Association’s DeVeaux said.
“But the one thing that we haven’t seen is the boom and bust.”
The CRC’s Brown said that “New Jersey is a long way away from having to worry about oversupply.”
Considering the situation in terms of access to capital, New Jersey’s commercial real estate market and municipal opt-outs, he added, “the market’s developing at a much more measured pace here than in some other states.
“But we do see it continuing to expand; in every meeting, our commission is issuing new annual licenses for retail, manufacturing, and cultivation.”
Source: https://mjbizdaily.com/with-cannabis-cultivator-cap-lifted-growers-face-new-jersey-challenges/
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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