Kapoor and Tagore are being felicitated for their contribution to Indian cinema at the show at Delhi's The Grand hotel where 27-year-old Gangwani will showcase 70 outfits.
The background score for the show will feature the title track of the film sung by the popular French crooner of Hindi film hits, Pascal Heni. It will also feature a small capsule of the film cut by French filmmaker George Emmanuel Morali.
"George has bought the rights to 'An Evening...' and wants to make a sequel to the film," tells Gangwani. "I was very happy that he made a special small cut of the film which will be shown before the show."
The collection has a melee of French and Indian designs put together in eclectic style by Gangwani who said France fascinates him.
"Everything about France has this innate sense of glamour and finery and I wanted to recreate that mood," said Gangwani. "Like I've made evening gowns but with a twist to give them a hint of Indian bridal wear."
Using everything from georgette, chantilly lace, crepes and lame to satin, net, and velvet, Gangwani has created an array - ball gowns to saris, skirts, trousers, churidars, gararas and lehangas.
There's also jewelled bustiers-corsets.
"The garments are embellished with crystals, beads, pearls and coloured rhinestones, and are in a number of colours from black to reds, oranges, shades of green, blue, yellow, silver, ivory and gold."
There's also going to be dashes of fur. Some parts of the shoot for the collection were held in France.
Gangwani studied at Delhi's Pearl Academy of Fashion and then did a course on fashion analysis at WSU, Michigan.
He has dressed celebrities like Soha Ali Khan Pataudi, Sharmila Tagore, Raveena Tandon, Suzanne Roshan, Amar Singh, Sameera Reddy, Priyanka Chopra, Sridevi and Saif Ali Khan.
He also makes comical portraits and has painted two for director-producer Karan Johar and Simi Garewal.