Bangalore: Software Technology Parks of India (STPI) director BV Naidu told reporters in Bangalore that the foreign investment was Rs 670 crore, and an additional Rs 200 crore might be invested by Indian firms in setting up base here during the first three months.

He said of the 30 foreign firms, 12 were technology-focussed companies and 11 BPO companies, aiming to leverage cost-advantage Bangalore offers with its skilled labour.

Naidu said the trend in new firms setting shop here was driven by US-based VC firms insisting on having an offshore base in India for funding new technology start-ups in America, besides the English-speaking talent available here for BPO firms.

The Government-owned STPI witnessed setting up of 168 units in Karnataka last fiscal with a total investment of Rs 1,970 crore, taking the total number of software and BPO companies to 1,322 in the state.

Karnataka's software exports grew by 46 per cent last fiscal at Rs 18,100 crore including a 135 per cent jump in BPO exports at Rs 2,237 crore.