Bangalore: Over 130 multinational IT firms have set up their development centres in Bangalore during last year with an investment of over Rs 1,800 crore, a top Government official said today (Feb 16, 2004).

Speaking at the inauguration of the new premises of i-flex software in Bangalore, Software Technology Parks of India (STPI) Bangalore Director B V Naidu said, during 2003, 131 firms set up its operations in India's silicon valley, taking advantage of the talent pool, and invested over Rs 1,800 crore.

He said software exports from Bangalore is expected to grow by 32-33 per cent this fiscal, over Rs 10,000 crore, as against the projected 28-29 per cent.

Naidu exhorted firms like i-flex to set up operations in the second tier cities like Mysore, Mangalore and Hubli-Dharwad, where STPI has established earth stations.

Inaugurating the centre, Karnataka IT Minister D B Inamdar said the city with 1.5 lakh software professionals has over shot 1.25 lakh professionals which silicon valley has in the US.

I-flex Chairman and Managing Director Rajesh Hukku said, the new development centre with an investment of Rs 50 crore, spread over 1.44 lakh sq ft can accommodate more than 1,500 employees, and the company was building an additional centre soon.