The Tata Group's appetite for foreign acquisitions is not satiated, a top Tata group official said today."Our appetite for foreign acquisitions is not satiated. Besides, we also have the appetite to grow in India," J J Irani, director, Tata Sons, said on the sidelines of a CII-organised conference.The Tatas have been acquiring on an average one foreign company per year in the period between 1991 to 2003, which increased to five in 2004."In 2005, our acquisitions touched double-digits and in 2006, the number was 20," he said.Irani said that it would be the company's endeavour to see that "the efficiencies of Tata Steel flow into Corus."Pointing out that Tata Steel was now one of the lowest cost producers of steel, Irani said that "we achieved this objective in just six years (by 1999-00). Today, we are amongst the five lowest cost producers of steel in the world."The Tata group's philosophy is to be a local company in the global arena, he said, adding that the group never tinkered with the culture of the companies it acquired.
