(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,

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.

According to a Moneycontrol report, major Nifty losers include Tata Motors, Dr. Reddy's Laboratories, Reliance Industries, Bharti Airtel, and Titan Company. On the gaining side, Jio Financial, SBI Life Insurance, and Tata Steel saw some positive movement.