From Vedanta's plans beyond semiconductor manufacturing to Sabyasachi's global ambition, here are our most read stories of the week

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1) Vedanta's gigantic ambitionAnil Agarwal's Vedanta Resources has announced a partnership deal with Foxconn to set up India's first semiconductor manufacturing project. The move will be a flex of India's manufacturing capabilities as the country will become only the fifth nation in the world to have this ecosystem. But if you ask Akarsh Hebbar, the global MD of Vedanta’s semiconductor and display business, the company's larger game goes beyond semiconductors. Chips and display glasses make up 60 percent of any electronic device. By combining the works of Vedanta Displays Limited and Vedanta Foxconn Semiconductors Limited, Agarwal's conglomerate now also wants to become the nucleus of electronic manufacturing. Read more here
 
2) Solving for mental health

Mental health is a gigantic issue in the country right now, and some philanthropists have big ambitions to solve this problem with scale. According to National Mental Health Survey (NMHS) 2015-2016, nearly 80 percent of people struggling with mental health illnesses in India were not seeking and receiving care. Rohini Nilekani, who recently announced a grant of Rs100 crore over the next five years to NIMHANS and NCBS, says that since the problem is so large, it becomes a very hard space to be effective in at the scale required to really move the needle. Indian philanthropists have focussed on high mortality and basic healthcare delivery. Some of them—Harsh Mariwala of Marico; Wipro’s Azim Premji; Biocon’s Kiran Mazumdar-Shaw; Tata Trusts and Aditya Birla Education Trust—have now also added mental health causes to their philanthropy roster. Here's a detailed analysis of why they need to do more and do better. Read more here
 
3) HSBC's India push

HSBC has been present in India for more than 70 years. It is one of the priority markets of the London headquartered bank. In 2022, India was its biggest market by operations. It was also the fourth largest contributor to its profit last year with a contribution of $1.27 billion or 7.2 percent of its total profit. We are also its largest employment market with 39,000 people making up 17 percent of its total workforce. In terms of revenue, corporate banking (64 percent) and treasury operations (22 percent) are the main contributors to its India revenues. A lot is going on for HSBC in India. Therefore, when Hintendra Dave, CEO of HSBC India says that they will be aggressive in expanding their business—re-entry into private banking for UHNIs, muscling up the mutual fund business, and launching a digital personal loan channel—nobody can question the move. Read more here

Discover

 
1) Part-time job scam

If you are still hanging around the dumpster fire that is Elon Musk's Twitter—or the wannabe Twitter that is the new LinkedIn—you will find a lot of posts about people getting dubious text messages and video calls from suspicious numbers. These callers always offer ways to make a quick buck while you work from the comfort of your home. They follow the same pattern. Lure you in with a small task, pay you for it, then slowly increase the difficulty levels, along with the money. Once you are hooked and trust them, then comes the trap. People are falling prey and losing lakhs of rupees each day. We spoke to experts and asked them to share tips on how to stay away from such fraud. Watch here

2) Gender gaps in Indian science

Aashima Dogra and Nandita Jayaraj run The Life of Science, a platform dedicated to highlighting the stories and voices of women and minorities in science. In late-2015, they decided to visit the labs of women scientists and researchers in India, and their recent book ‘Lab Hopping’, is a result of hundreds of conversations they have had with these women. It navigates the web of patriarchy, isolation and ineffective regulations to highlight the grit, wisdom, victories and challenges these women face in everyday life as they pursue their love for the sciences. In this episode of From the Bookshelves of Forbes India, the writers talk about how science in India has a history of exclusion and patriarchy and why it’s time to change. Listen here

3) Sabyasachi and super-brand

Sabyasachi Mukherjee debuted as a fashion designer in 1999. People assumed he was a designer. But the way he built the brand Sabyasachi, synonymous with the opulence of Indian heritage and the epitome of Indian crafts, keen observers know that he is a businessman first. He has collaborated with global brands such as Christian Louboutin, Bergdorf Goodman, H&M, Pottery Barn and even Starbucks, making Sabyaschi a flagbearer of Indian fashion. In 2021, Aditya Birla Fashion and Retail Ltd (ABFRL) acquired a 51 percent stake in the Indian luxury designer label. The fresh influx of funds helped launch the brand its first store in New York and the second one in Mumbai. Sabyasachi is making clothes,  jewellery, handbags, belts and much more. All part of a grand plan: to become a luxury super-brand from India. Read more here

4) Quick take

Starting this week, Forbes India will bring a Quick Take on the big headlines—a quick conversation shedding light on the deeper meaning behind the news. In the first instalment, we talk about what will happen if the rumours of NBC Universal Media marketing exec Linda Yaccarino taking over the job of the CEO of Twitter are true? Without revealing their name Elon Musk tweeted that his choice will start work in six weeks and he will be stepping away to take on CTO and exec chair roles. Will this new appointment have any bearing on Twitter's plans in India? Can Yaccarino, a top marketer, bring her perspective to one of the world's biggest social media platforms?​ Listen here