Retail in Asia

In Shops

Retailers fall after renewed opposition to India’s FDI reform

Shares of India’s retailers fell sharply on Monday, after a key ally of the Congress party voiced fresh opposition to the government efforts to open India’s USD450-billion retail sector to foreign supermarket majors like Wal-Mart Stores.

The latest protest comes during what is seen as a narrow political window for Prime Minister Manmohan Singh to push key reforms to revive India’s flagging growth.