Best known for comedy roles, his career ranged from working in Gujarati plays, Hindi television shows and Hindi Bollywood movies.

His skill and success earned him the informal title of "Prince of Comedy.

"[1] Kanakia's first major television role was in the comedy series, Shrimaan Shrimati, where he played the lead role of Keshav Kulkarni, a married, middle-class house-holder who develops a crush on his movie star neighbour, played by Archana Puran Singh, and a rivalry with her husband, played by Rakesh Bedi, who in turn is drawn to Kulkarni's housewife Reema Lagoo.

Kanakia's success on television led to minor roles in big-budget Hindi films such as Hum Saath Saath Hain.

Kanakia's career was cut short on 26 July 1999 when he died from pancreatic cancer at the age of 46.