German auto component company Brose India Automotive Systems is exploring joint ventures, mergers & acquisitions, and partnerships to accelerate its presence in India.

Dr. Philipp Schramm, CEO of Brose Group, stated that while his company is open to expansion, it will be selective and focus on "smart and wise moves." He did not specify a defined "war chest" or budget for investments, explaining that it will depend on the specific target and opportunity. The focus is on finding the right fit rather than just deploying capital, the top executive clarified.

Schramm's strategy is rooted in Brose's long history, which includes successful joint ventures with family-owned companies in South Africa and Turkey. The company is exploring similar opportunities in the Western world. He emphasized the importance of aligning with the growth and value development mindset of these family-owned companies.

"We see benefits in growing together because there's a similar mindset behind it," Schramm explained, adding that he is looking to support Brose's Indian operations to increase profitability.

Schramm emphasized that Brose has grown organically in India so far. However, the need now is to make "bolder decisions" and take the next step in the market.