Chennai exporter Meenakshi India plans Rs 40 crore expansion to double production
Chennai-headquartered apparel exporter Meenakshi India, which set up its first garment manufacturing unit in the industrial hub of Ambattur in 1991, has announced plans to invest Rs 40 crore to nearly double its production capacity by the financial year 2030 (FY30). The company aims to scale its annual production from 18 lakh garments to 35 lakh pieces as part of its target to reach a revenue of Rs 450 crore to Rs 500 crore.
Meenakshi India, which currently employs more than 1,200 people, was founded in 1982 by Shyam Sunder Goenka as a textile trading company. The firm transitioned into manufacturing in 1991 when it utilized unused space at a property in Ambattur that previously housed a steel forging unit.
According to Chairman and Managing Director Ashutosh Goenka, the company later shifted its manufacturing base to Salem in 1996 to be closer to the textile ecosystem and source fabrics more efficiently. This shift led to the closure of the Ambattur facility in 2006 after it became economically unviable, with operations consolidating in Salem and later expanding to Rasipuram in 2011.
The company, recognized as a star export house by the Government of India, specializes in non-denim bottoms and jackets, exporting to leading brands in the United States and Europe. Its revenue for the financial year 2025 (FY25) stood at Rs 188 crore.
To achieve its FY30 targets, the firm is evaluating whether to add its new manufacturing capacity in India or overseas, depending on evolving market conditions and trade agreements. Meenakshi India has already entered a contract manufacturing arrangement in Sri Lanka and is evaluating Nepal for a wholly owned manufacturing facility.
The company is also undergoing a leadership transition. Founder Shyam Sunder Goenka, 85, has retired, and the day-to-day management is now being shared between CMD Ashutosh Goenka and his son, Shubhang Goenka, who serves as a whole-time director after returning from London.
