Shein is one of the most searched clothing names in India, and almost nothing about how it reaches an Indian shopper works the way the name suggests. The brand is not the seller here. The seller is an Indian company, and the clothes it sells declare India as their country of origin.
Shein does not trade in India. The shop Indians buy from — sheinindia.in and the SHEIN India app — is run by NextGen Fast Fashion Limited, a Mumbai company incorporated on 22 December 2022 and owned 100% by Reliance Retail Ventures Limited. Its audited accounts record a royalty payable for use of the brand “SHEIN”. All thirteen product declarations read on 6 September 2026 name that company as marketer, manufacturer and seller, and declare the country of origin as India.
- Who sells it in India
- NextGen Fast Fashion Limited, CIN U52590MH2022PLC395822, incorporated 22 December 2022
- Who owns that company
- Reliance Retail Ventures Limited, 10,000 shares, 100%
- Ultimate holding company
- Reliance Industries Limited
- Where it sells
- sheinindia.in, the SHEIN India app, and a shop-in-shop on AJIO
- Price band seen
- ₹449 to ₹999 across 13 listings read 6 September 2026; nothing in the catalogue above ₹2,000
- Country of origin declared
- India, on 13 of 13 listings read
Who sells Shein in India
The shop is a Reliance company. NextGen Fast Fashion Limited describes its business, in audited accounts Reliance publishes on its investor pages, as “organised e-commerce retail via application & website (www.sheinindia.in)”. Those accounts name Reliance Retail Ventures Limited as its parent and state that “the ultimate holding company is Reliance Industries Limited”.
- NextGen Fast Fashion LimitedRuns the site and the app; Mumbai, 22 December 2022
- Reliance Retail Ventures LimitedHolds 10,000 shares — the whole company
- Reliance Industries LimitedUltimate holding company, listed
The government’s December 2024 answer describes Reliance Retail Ventures Limited contracting “through its subsidiary Reliance Retail Ltd”. The shop itself is run by NextGen, a different subsidiary of the same parent.
The royalty line, and what it does and does not prove
The clearest document on the arrangement is duller than any press release — one note in NextGen’s audited accounts, present in both years, signed off by Deloitte Haskins & Sells LLP in a report dated 14 April 2026.
During the year, the Company has recognized provision against royalty payable to its business partner. This is against usage of the brand ‘SHEIN’ for sales in India via Company’s application & website.
NextGen Fast Fashion Limited, financial statements for 2025-26, published by Reliance Industries Limited.
The sums are small and moved sharply: ₹8.3 lakh for the year to 31 March 2025, given as USD 9,692, and ₹171.37 lakh for the year to 31 March 2026, given as USD 1,83,313. An Indian company paying a foreign-currency royalty to use a brand name, described that way in a filing an auditor has signed, is as close as a reader will get to the inside of a licensing deal.
Two limits sit on that finding. The accounts do not name the counterparty — the words are “its business partner” and nothing more. And the government does not use the word licence. In a written answer in the Lok Sabha in December 2024, reported by MediaNama and by Business Standard, the reply says Reliance Retail Ventures Limited, “through its subsidiary Reliance Retail Ltd (RRL), has entered into a ‘technology agreement’ with Singapore-based Roadget Business Pte. Limited (Shein)”. Technology agreement is the government’s term; licensing agreement is the trade press term. This page states neither as the instrument, because no agreement has been read outside the parties and no term, expiry, exclusivity or royalty rate sits on any record.
The two reports differ on the date of that answer — MediaNama gives 18 December 2024, Business Standard 17 December 2024. We have the reports but not the answer’s own text, so both dates stand and neither is preferred.
What Shein costs in India
Ask ten Indian clothing retailers the same question on one day and the answers differ wildly, which makes the permanent discount a choice rather than a market condition. Westside sold at MRP on every listing read; Louis Philippe was reduced on 73 of 74; Zudio publishes no price on its own website at all.
Shein India sits at the near-MRP end, and the number that matters is a ceiling rather than an average. Its own price filter, counted twice within a few minutes on 6 September 2026, put the catalogue at 43,057 listings on the first count and 43,056 on the second — one brand, no third-party sellers. Nothing was priced above ₹2,000.
| What the shop’s own filters counted, 6 September 2026 | First count | Second count |
|---|---|---|
| Total listings | 43,057 | 43,056 |
| Below ₹500 | 18,946 | 18,945 |
| ₹500 to ₹1,000 | 22,384 | 22,384 |
| ₹1,001 to ₹1,500 | 1,708 | 1,708 |
| ₹1,501 to ₹2,000 | 19 | 19 |
| Discount band 0–20% | 39,717 | 39,716 |
| Discount band 21–30% | 2,205 | 2,205 |
| Discount band 31–40% | 1,135 | 1,135 |
On the first count, 41,330 of 43,057 listings — 96.0% — were under ₹1,000. The discount filter is the sharper finding: it offers no band above 40%, and 92.2% of listings fall in the lowest band, 0–20%. That band bundles undiscounted listings in with lightly reduced ones, so it cannot be read as a share selling at MRP. What it establishes is a ceiling: on that day, by the shop’s own count, no listing was more than 40% off. The app banner says the same from the other side — “Get up to 40% off and more offers on mobile app exclusively” — and a page built for a flat 50% sale renders “Sorry, deal is over.”
Thirteen listings were then read one at a time, each checked against the discount figure the site prints on it: t-shirts, women’s jeans, sandals, a tote and a backpack. Eleven of the thirteen were charged at MRP. Median MRP ₹799, median charged ₹799, range ₹449 to ₹999 on both, and ₹10,437 of MRP came to ₹10,097 charged — 96.7%. The deepest cut was 33% off a ₹799 t-shirt. Thirteen against 43,000-odd is a spot check and not a census, so take the filter counts as the shape of the catalogue and the thirteen as evidence that the printed price is usually the price charged.
One comparison this site normally runs cannot be run here. Zara, Uniqlo and H&M each publish a product code that works in several countries, so an Indian price can be set against a Spanish, Japanese or German one. Shein India’s assortment is its own — Reliance describes adding roughly 1,000 new options a day — so no product matches across markets.
What the label says, and what the shop says
Thirteen product declarations were read in full on 6 September 2026. On all thirteen, the marketed-by, manufactured-by and sold-by lines carry the same entity and the same address: Nextgen Fast Fashion Limited, care of Reliance Industries Ltd, Court House, Lokmanya Tilak Marg, Kalbadevi, Mumbai. None carries an importer line. Net quantity reads “1 N” on all thirteen; fibre composition appears on ten.
That is the shortest declaration this site has seen on an apparel page — Peter England listings between them name twenty-one entities, Arrow fifteen. Such a declaration names who is legally answerable for the goods, not who sewed the garment: a company in the manufactured-by field need not run a factory, and no factory, supplier or sourcing address is named on any record read.
Two strings on those pages are worth setting side by side. The shop’s own product copy reads: “Shein is a China-based brand offering a wide selection of men’s and women’s clothing shaped by current style ideas and easy-to-wear designs.” The statutory declaration on the same pages reads “Country Of Origin: INDIA”, on all thirteen. No listing declaring another country turned up, though thirteen cannot establish that none exists.
One oddity, recorded without explanation: the address on every declaration ends “Mumbai, Maharashtra 403702”, while the registered office in the audited accounts is Mumbai 400002. GSM — the grams-per-square-metre figure that tells you how heavy a t-shirt is — appears on none of the thirteen, and on no apparel brand read for this site, so read the composition line instead.
Urbanic, read the same day, points the other way
Urbanic reads as an Indian label on the app stores. Its 421 listings, read on 6 September 2026, declare “Country of Origin: PRC” on 421 of 421, and the companies behind it run to four across three jurisdictions with no shareholder established for any. Shein reads as foreign — its own shop calls it a China-based brand — and its declarations say India on thirteen of thirteen, behind one Indian company wholly owned by a listed group on the face of an audited filing. Two fast-fashion apps, the same day, opposite answers to both questions.
The 2020 order, stated as the release states it
- 29 Jun 2020Ministry blocks 59 apps; Shein named in the appendix
- 22 Dec 2022NextGen Fast Fashion Limited incorporated in Mumbai
- Dec 2024Lok Sabha answer describes a “technology agreement”
- 25 Apr 2025Reliance says Shein launched on app, website and AJIO
- 14 Apr 2026FY26 accounts signed; brand royalty ₹171.37 lakh
On 29 June 2020 the Ministry of Electronics and Information Technology issued a press release headed “Government Bans 59 mobile apps which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order”. Shein is named in the list of 59 appended to it. The release gives the power relied on in its own words: the ministry acted “invoking it’s power under section 69A of the Information Technology Act read with the relevant provisions of the Information Technology (Procedure and Safeguards for Blocking of Access of Information by Public) Rules 2009 and in view of the emergent nature of threats”.
On how the decision was reached, the release says the Indian Cyber Crime Coordination Centre at the Ministry of Home Affairs “has also sent an exhaustive recommendation for blocking these malicious apps”, and that the ministry “has also received many representations raising concerns from citizens regarding security of data and risk to privacy relating to operation of certain apps”. Those are the release’s words, about all 59 apps together, and this page does not paraphrase them.
A permanent ban in January 2021 is widely repeated in trade press. No government release or order to that effect could be established, so nothing here rests on it. Nor is there any document either way on whether the June 2020 order was later revoked or modified, so this page says nothing about that.
What the government has said since can be quoted. In the December 2024 answer, as Business Standard reported it, the Commerce and Industry Minister said the “sale of Shein-branded products in India was not banned”. The same answer, as MediaNama reported it, states that “ownership and control of the Platform will always remain with RRVL through its wholly owned subsidiary” and that all platform data “will remain in India with Shein having no access to, or rights over, such data”.
The number the accounts do not carry
Reliance has published dated statements since the launch. Its media release of 25 April 2025 says Shein “was launched across the app, website, and Shop-in-Shop on AJIO”. Its results presentation of 24 April 2026 says Shein “continues to maintain revenue growth momentum” and had “Crossed 11 Mn+ app installs”. Its release of 17 July 2026 reports “30 million+ app installs”. Installs are installs — not customers, not rupees.
NextGen Fast Fashion Limited’s audited accounts for the year to 31 March 2026 report no revenue from operations at all. The accounts give the reason: “All directly attributable and reasonably allocable expenses including revenue from operations have been capitalized as ‘Intangible Asset Under Development (IAUD)'”, until specified performance measures are achieved. That figure stood at ₹487.86 crore, against ₹100.79 crore a year earlier, and the profit and loss shows only other income — ₹4.09 lakh in 2024-25 and ₹44.37 lakh in 2025-26.
So the company that runs sheinindia.in publishes no sales figure. There is no basis here for estimating one, and none is offered.
Advertising, courts and the trade mark
The Advertising Standards Council of India’s complaints record carries nothing against Shein. That is not a compliment, and the reason it is empty can be given: NextGen Fast Fashion Limited was incorporated on 22 December 2022 and the shop opened in 2025, so for most of the period the register covers there was no Indian advertiser to file against. The council is a self-regulatory industry body rather than a statutory regulator, and its file holds only advertisements complained about and decided.
No decided Indian judgment names NextGen Fast Fashion Limited or Roadget Business Pte. Ltd. Searches on the brand name return older matters that are name collisions. Consumer commission, customs and standards records were not looked at here, so nothing is claimed about them either way.
On the mark, the Indian register did not yield an owner, so this page names none. Outside India, the United States register records SHEIN, serial 87857225, registered 20 August 2019 in class 18, with an ownership assignment update recorded on 27 October 2021, in the name of Roadget Business Pte. Ltd — a Singapore company, UEN 201939698G, incorporated 22 November 2019 on a register mirror, shareholders not established. No document read connects it to the royalty in NextGen’s accounts.
The app Indians install is published by an Indian company: Google Play lists “SHEIN India Fast Fashion”, package com.ril.shein, developer Reliance Retail Ltd, updated 14 July 2026, and the Indian App Store carries a copyright line reading “© 2024 Nextgen Fast Fashion Limited”.
Common questions
Is Shein banned in India?
On 29 June 2020 the Ministry of Electronics and Information Technology announced it had decided to block 59 mobile apps under section 69A of the Information Technology Act, and Shein is named in the list appended to that release. In a Lok Sabha written answer in December 2024, as Business Standard reported it, the Commerce and Industry Minister said the sale of Shein-branded products in India was not banned. No document either way could be established on whether the 2020 order was later revoked or modified.
Who owns Shein in India?
The shop is run by NextGen Fast Fashion Limited, CIN U52590MH2022PLC395822. Its audited accounts show Reliance Retail Ventures Limited holding all 10,000 shares, with Reliance Industries Limited as ultimate holding company. Shein holds no shareholding in it; the connection is a royalty for use of the brand name, recorded in those accounts.
Are Shein clothes sold in India made in India?
All thirteen declarations read on 6 September 2026 state “Country Of Origin: INDIA”, on pages whose own copy describes Shein as a China-based brand. No factory or supplier is named on any record read, and thirteen listings cannot establish that none declares another country.
Does Shein India actually discount?
Lightly, with a hard ceiling. On 6 September 2026 its discount filter offered no band above 40% and put 92.2% of listings in the lowest band, 0–20%. That band mixes undiscounted listings with reduced ones, so it does not measure how many sell at MRP. Of thirteen listings read one at a time, eleven were charged at MRP.
Is Shein cheaper in India than abroad?
The record does not answer it. The Indian assortment is its own, with roughly 1,000 new options a day by Reliance’s account, and no product code matches between the Indian shop and the global one.
References
- Press Information Bureau, release PRID 1635206, 29 June 2020 — the blocking of 59 apps, the ministry, the date, the statutory power quoted and Shein’s name in the appended list
- NextGen Fast Fashion Limited, financial statements 2025-26 — the royalty note quoted, ₹171.37 lakh, the shareholding, CIN, auditor and report date, no revenue from operations, ₹487.86 crore of intangible assets under development
- NextGen Fast Fashion Limited, financial statements 2024-25 — the ₹8.3 lakh royalty, incorporation on 22 December 2022, and the prior-year figures
- MediaNama, December 2024 — the “technology agreement” wording, Roadget Business Pte. Limited, ownership and control, data remaining in India, and one of the two dates
- Business Standard, 17 December 2024 — the minister’s statement on the sale of Shein-branded products, and the other date
- Reliance Industries media release, 25 April 2025 — the launch across app, website and shop-in-shop on AJIO
- Reliance Industries results presentation, 24 April 2026 — the “revenue growth momentum” line and the 11 million app installs figure
- Reliance Industries media release, 17 July 2026 — the 30 million app installs figure
- sheinindia.in — catalogue counts read twice, price and discount bands, the thirteen listings and their declarations, the origin lines, the China-based brand copy and the 40% banner
- SHEIN India Fast Fashion on Google Play — the package name, developer and update date
- SHEIN India Fast Fashion on the Indian App Store — the copyright line
- United States trade mark record, serial 87857225 — the mark in class 18, its registration date and the recorded ownership assignment
- Singapore register mirror, Roadget Business Pte. Ltd. — cited as a mirror, for the UEN and incorporation date
- Indian Kanoon — searches for the Indian company and for Roadget, run against a control
For a shopper the arithmetic is simple and better than most of Indian clothing retail. Nothing on sheinindia.in was priced above ₹2,000 on 6 September 2026, 96.0% of the catalogue sat under ₹1,000, and its own discount filter offered no band above 40%. Eleven of thirteen listings read one at a time were charged at MRP, so the printed price is usually the price.
What deserves care is the distance between the name on the door and what the record establishes. The shop’s copy calls Shein a China-based brand; every declaration read says the goods come from India, and no factory is named anywhere. Reliance’s presentation of 24 April 2026 speaks of revenue growth momentum. The operating company’s accounts for that year report no revenue from operations. And nobody outside the parties has seen the agreement — the accounts say only “its business partner”.
The name is Chinese, the seller is a Reliance company, the clothes declare India, and the whole connection rests on one royalty line in an audited filing.
