Bangalore: Software icon N R Narayana Murthy on January 8 spoke of the need for a sound value system to use technology for social and economic progress of society and for strong values in business practices.

In his address to eminent scientists and spiritual thinkers from across the globe attending a meeting on "Science and Beyond", he called for practising "values that put the interest of the community ahead of yourself".

Addressing the meet organised by the National Institute of Advanced Studies and US-based John Templeton Foundation in Bangalore, he said technology enabled application of scientific knowledge to practical tasks but stressed on a sound value system providing the framework for using technology.

Apart from highlighting the need for value system for sustainable development, he also referred to instances of frauds in the corporate sector, citing greed and pettiness as among the chief reasons for it.

Strong value system was required in business practices, he said, saying "a sound value system that will act like a rudder" should be developed.

PTI