The Congress, on Thursday, accused Union Minister Nitin Gadkari of a conflict of interest, alleging that his sons’ ethanol-producing companies have registered exponential growth while the government accelerated its ethanol blending programme.
AICC Media and Publicity Department Chairman Pawan Khera, addressing a press meet, claimed Nikhil Gadkari and Sarang Gadkari run ethanol ventures -- Cian Agro Industries & Infrastructure Ltd and Manas Agro Industries and Infrastructure Ltd -- which have reportedly seen significant gains in revenues and share prices.
According to Khera, Nikhil Gadkari’s firm Cian Agro reported revenues of Rs 18 crore in June 2024, which soared to Rs 723 crore a year later. Its share price jumped from Rs 37 in January 2025 to Rs 638 - marking a whopping 2,184% surge, further writes the Congress in a post on microblogging site X.
“The father sits in the government making policies, while the sons make money,” alleged the Congress leader, linking the exponential growth to India’s ethanol blending programme that met its 20% target ahead of schedule.
The Congress' charges come as the Centre faces growing backlash from motorists over the nationwide rollout of petrol blended with 20% ethanol (E20).
The Central government has, however, defended the rollout, arguing that ethanol blending reduces emissions and boosts farmer incomes.
Petroleum Minister Hardeep Singh Puri has dismissed criticism as attempts by “vested interests” to create confusion, though his ministry has conceded that older vehicles may require gasket and rubber part replacements.
India, the world’s third-largest car market, set a 2025 target for 20% ethanol blending but reached it ahead of schedule.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
