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BANGALORE: Bangalore has attracted Rs 1,800-crore investments in the IT sector in the current financial year, Mr B.V.Naidu, Director, Software Technology Parks of India (STPI), said here on Monday. This represents an increase of 75 per cent over the Rs 1,025- crore investment that came into the city during 2002-03.

About 131 new technology companies have set up their bases in Bangalore during the current year as against 116 in the previous fiscal, Mr Naidu said. He was speaking at the inaugural of the new development centre of i-flex solutions in Bangalore, in which the company has invested Rs 50 crore. The new facility is capable of accommodating 1500 engineers.

Mr Naidu also indicated that software exports from STPI-Bangalore would grow by 32-33 per cent in the current financial year as against 28 per cent in the previous year. Software exports from Bangalore stood at Rs 13,754 crore during 2002-03.

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