Shares of retailers fell sharply at the stock exchange today after the news that the Samajwadi Party has now written to the Prime Minister along with the Left to oppose FDI in multi brand retail. With the presidential election finally over, many had expected the Prime Minister to push for big ticket reforms. Last week Commerce Minister Anand Sharma told us that the government had made up its mind on FDI in multi brand retail and would look for a consensus, not unanimity. But it's clear the going will be tougher than they anticipated.
