The five-day fashion gala will open on July 29 here.
The 40-year-old actress was last seen on the ramp for Malhotra's 2010 show at the HDIL India Couture Week.
Aishwarya is also making her big screen comeback this year with Sanjay Gupta's action-drama "Jazbaa" opposite Irrfan.
The film also stars Shabana Azmi and its first look was unveiled at this year's Cannes Film Festival. It is slated to release on October 9.
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