Priyanka, Shahid at India's Best Dressed party

Bollywood stepped out in style to honour India's Best Dressed as People magazine launched its special annual issue on style icons. This year, India's Best Dressed was actor Priyanka Chopra, known for her simple yet stylish wardrobe. She walked the ramp, as did ex-beau Shahid Kapoor. Take a look!

Priyanka Chopra looked fab in a creation by designer friend Manish Malhotra.

The style diva walked the ramp at the Mercedes-Benz Best Dressed Show 2011, which was held in a celebration of the special issue of the magazine.

"That's last night at the People magazine best dressed launch. Me and Manish Malhotra. Great show," the actress tweeted.

Priyanka looked gorgeous in a navy blue velvet lehenga with peach border.

Priyanka has said the one style accessory she always has is confidence.

Priyanka's ex-beau Shahid Kapoor also walked the ramp.

Actor Imran Khan looked suave in a steel grey suit. He was spotted sans wife Avantika.

Gul Panag flaunts her long legs in this one shoulder dress.

Flawless Sophie Choudry did it yet again in this one-shoulder coral dress.

Yet another beauty was spotted in a one-shoulder dress and this time it was Rangeela lady Urmila Matondkar. We just love her.

Dia Mirza with beau Sahil Sangha.

Mandira Bedi sizzles in gold and black embellished sari.

Shania NC wears a sari too.

It's an electric blue gown for Sameera Reddy.

Elder sister Sushma Reddy opts for shimmer.

Rahul Khanna in a black achkan.

Producer-director Karan Johar is dressed for the occasion.

Rohit Roy is impressive.

Delhi Belly girl Poorna Jagannathan looks hot in this nude colour gown.

Rohit Roy with his beautiful wife Manasi Joshi Roy.

Anchor-cum-actor Shruti Seth could have added some colour.

Shahid looks cool in jeans and white shirt.

Dilip Tahil, who will be seen in RA.One later this month, was also spotted at the bash.