How 'Industry' put Rishi through hell in its 'most intense' episode yet

When Industry actor Sagar Radia first heard that Season 3 would devote an entire episode to his character, Rishi Ramdani, he didn't quite believe it.

"I remember [Industry co-creator] Mickey [Down] mentioning it to me about a year prior, and I kind of threw it away and took it with a pinch of salt, thinking, 'That's a great idea, but I'm sure once you take it up the ladder, there'll be some ideas and changes, and it won't quite happen,'" Radia told Mashable in a video interview.

But happen it did, resulting in Industry Season 3, episode 4, "White Mischief," the show's most harrowing installment to date.

Up until now, Pierpoint & Co. trader Rishi has mostly been a side character, albeit one you can always count on to deliver some of Industry's best one-liners. But "White Mischief" turns the spotlight squarely on Rishi's personal and professional life — and it's not pretty.

Credit: Simon Ridgway / HBO

Whether he's experiencing racism in his new English country home, facing accusations of inappropriate workplace conduct, or getting threatened over his substantial gambling debt, Rishi is on a downward spiral. How does he try to course correct? More gambling, riskier trades at work, and a coke-fueled trip to a nightclub that leaves him bloodied. The episode, which plays like Industry meets Uncut Gems, is a nonstop stress ride.

For Industry co-creators Down and Konrad Kay, the stress was the whole point of "White Mischief." This marks Industry's 20th episode, so the pair knew they had to go big.

"We wrote this note at the top of the script, which we read out at the table read, which was like, 'You haven't seen anything yet. Basically, this has to be the most intense, fast-paced, most quintessential episode of Industry ever,'" Down said in a video interview with Mashable.

When initially creating the world of Industry, Down and Kay, both of whom have formerly worked in finance, knew they needed a character like Rishi. Not only was he a much-needed bit of comic relief, he also added authenticity to Pierpoint. "We know people like him," Down said. "So he felt like the perfect person to have on the floor, but not to really drive the story."

This has to be the most intense, fast-paced, most quintessential episode of Industry ever.

Mickey Down

However, over the course of Season 2, Down and Kay gave Rishi a larger role in Industry. He tried to jump ship from Pierpoint alongside Harper Stern (Myha'la) and Eric Tao (Ken Leung), and he got married (but not before having sex with Harper in a bathroom stall at the pre-wedding party).

Seeing Radia embrace Rishi's increased importance made Down and Kay realize they needed a Rishi-centric episode. As they developed Season 3, that idea remained a constant in the writers' room. "We didn't know what it was going to be," Down said, "but we thought, 'Some dark shit is going to happen.'"

Credit: Liam Daniel/HBO

And boy, does "dark shit" ever happen. From a gambling spree gone wrong to a frighteningly specific image involving a veal calf, "White Mischief" is a monster of an episode — and a tall order for any actor. Down recalled telling Radia about the episode, saying, "You're going to be in every single scene, and you're going to have to basically go from the depths of hell to heaven and back again constantly. You're gonna have to cry. You're gonna have to explore your own masculinity. You're gonna have to explore your own attitudes towards race in the UK, and your own identity as a British Asian man."

For his part, Radia was more than up to the challenge. "I was genuinely really keen on finding out more about Rishi off the trading floor. ??I think for two seasons, we've very much seen him in that environment, and how much he dominates and executes in that environment," Radia said. "But I think to really tell that three-dimensional story of a person, I think we need to see them away from work and see how those people code-switch in different environments."

Funnily enough, prior to reading the episode, Radia had never actually discussed his own ideas about Rishi's internal life with Down and Kay. However, there proved to be a remarkable amount of overlap.

To really tell that three dimensional story of a person, I think we need to see them away from work.

Sagar Radia

"I discussed it with some friends in Season 1. They'd joke about, 'Where would you love to see Rishi go? Like if you could pick,'" Radia said, "And I was like, 'I think there's scope for addiction there. I feel like he's got an addictive personality, whether it's gambling or alcohol or whatever it may be.' Cut to two years later, and it's on the page, and I never once had that conversation with Mickey and Konrad. So actually, it's quite reassuring that your thoughts are aligned in that sense, as to who this person is and the type of character he is."

That Rishi gets his well-deserved moment now is proof of Industry's confidence in its third season, and its willingness to play with form. Already, we've seen Industry Season 3 employ flashbacks — a series first. That we get an entire episode showcasing a new character only adds to that sense of experimentation and growth from season to season.

"That's the beauty of having a third season," Down said. "We wouldn't be able to get away with [this episode] in Season 1 or 2."

Industry Season 3 is now streaming on Max, with new episodes premiering Sundays at 9 p.m. ET on HBO and Max.