In the 1930s (and perhaps a little bit on either side of this decade) it is very common to see a) the sequinned sari and b) plain sarees with gold borders. In some cases these are fine silks and cottons but in others they appear to be chiffons or synthetic fabrics of the decade. The sleeveless blouse is pretty common – most blouses of this period are fairly brief.
For the men, its a mix of Western suits and Indian attire like dhotis-kurtas and paijama-achkan.
Pic 1 is of the star couple of the late 20s and 30s – Sulochana and Billimoria (the Gujarati/Parsi style sari is common in Bombay pictures of the time). Pic 2 is from the Telugu movie Malli Pelli (that’s the best I could get to illustrate the post).