The bespoke wool suit with the words "Narendra Damodardas Modi" woven into the pinstripe proved a hot ticket at the three-day auction, sparking a bidding war that pushed the price up to INR43.1 million ($692,000).
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The suit was among more than 450 lots put up for auction by Modi in the city of Surat in his home state of Gujarat.
Modi has won a reputation as a fashion icon for his sometimes daring sartorial choices.
But wearing a suit with his own name on it was seen by many as a step too far, drawing accusations of narcissism -- possibly the reason Modi decided to sell it off.
The money raised will go towards cleaning up the holy Ganges river -- a pet project of India's Hindu nationalist prime minister.
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Winning bidder Lalji Patel, owner of the Dharmanandan diamond company, said he had wanted to do something for his country.
"Buying this suit was all I wanted. It feels good to know that the money will go towards the cleaning of the holy river," he told reporters.
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