The costume in question was part of the most recent Lisa Blue swimwear collection, shown during Australian Fashion Week last week.
The one-piece features a vibrant image of Lakshmi - the Hindu Goddess of wealth and purity - across the front, as well as another smaller image on the rear.
The design has prompted outrage within the Hindu community in India, with several protestors taking to the streets brandishing posters of the model in the swimsuit, and setting fire to the Australian flag.
He states that Lakshmi is meant to be "worshipped in temples or home shrines," and not for publicising swimwear in fashion shows for "mercantile greed of an apparel company".
The Lisa Blue brand has since announced the halting of prodution on the design, releasing the following statement via their website:
"The image of Goddess Lakshmi will not appear on any piece of Lisa Blue swimwear for the new season, with a halt put on all production of the new range and pieces shown on the runway from last week removed. This range will never be available for sale in any stockists or retail outlets anywhere in the world.
"We apologise to the Hindu community and take this matter very seriously."
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