Retail stocks fall as AAP govt scraps FDI in multibrand retail

Tags: News
Retail stocks today came under selling pressure after the Aam Aadmi Party Government withdrew the approval given by the previous Sheila Dikshit dispensation for FDI in multibrand retail in Delhi.

Shares of Provogue (India) tanked 3.83 per cent, while Trent slide 3.10 per cent and Brandhouse Retails went down by 2.76 per cent.

Among others, Shoppers Stop fell by 1.98 per cent and Future Retail lost 1.79 per cent on the BSE.

In a major policy reversal, the Aam Aadmi Party Government yesterday withdrew the approval given by the previous Sheila Dikshit dispensation for FDI in multibrand retail in Delhi, saying allowing global retail chains like Wal-Mart and Tesco to set up shops will result in large-scale job losses.

The previous Congress government had taken a number of steps to remove bottlenecks in attracting FDI in multibrand retail. It had even announced plan to make amendments to the Agricultural Produce Marketing Committee (APMC) Act to allow direct connectivity between retailers and farmers.

Last year, the central government permitted 51 per cent FDI in the multi-brand retail trading and left its implementation on the states.

Delhi has become the first state to withdraw permission for FDI in retail sector.


  • India’s economic recovery has to be consumption, and not investment, led

    It is well accepted that falling global commodity prices, especially oil, have helped the Indian economy regain lustre in the past year or so.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Amita Sharma

Smart cities for the smart citizens

The 21st century has been spoken of as the urban ...

Purnendu Ghosh

Too shy people love themselves too much

We are essentially shy people. Our extent of shyness, however, ...

Shona Adhikari

When nature and naturism have a date

DAG Modern has announced its forthcoming exhibition The Naked and ...


William D. Green

Chairman & CEO, Accenture