That’s a steeper hit than the 15% to 20% range applied on several regional peers.India’s stock benchmark has lagged most major global peers this year amid concerns over a slowdown in its economy and corporate earnings.

(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,

Trump imposed a 25% tariff on Indian goods, impacting markets and exporters. While India expected a lower rate, the move wasn't entirely unforeseen.