(Reuters) -Indian shares are set to open lower on Thursday after U.S. President Donald Trump threatened a 25% tariff on goods imported from the country starting August 1 and an unspecified penalty. The 25% figure would single out India more severely than other major trading partners,

U.S. President Donald Trump on Thursday slapped a 25% tariff on Indian goods after prolonged talks that got bogged down over access to India's labour-intensive agricultural sector, which New Delhi has pledged to protect.

According to the Bloomberg data, Indian rupee has depreciated 0.83 percent in last two weeks. On a year-to-date basis, the local currency is under pressure and second worst performing among Asian peers.