Its back-breaking for India Inc bosses

New Delhi, May 29 | Updated: May 30 2007, 05:30am hrs
Prime Minister Manmohan Singh may have asked Indian business leaders to take a cut in salary, but they keep the longest hours at work in the world. According to the Grant Thornton International Business Report 2007, Indian business leaders, along with their counterparts in Argentina, work the longest, with 57 hours a week and were the third-most-stressed in the world behind China and Taiwan in 2006.

Indian business leaders were followed by those from Armenia, Australia and Botswana in keeping long hours at work. Business leaders around the world work on an average 53 hours a week, with the Europeans working the fewest (50) hours, followed by those in East Asia (53 hours) and in the member nations of the North American Free Trade Agreement (54 hours).

Italian business leaders work the least, 47 hours a week, followed predominately by top Swedish, Dutch, Irish and Spanish executives all on 48-hour average working weeks. The report, which covers 7,200 privately owned businesses in 32 countries, found that 56% of business leaders worldwide feel their stress levels have increased in the last year.

Also, India tops the optimism index chart, followed by the Philippines, China and Singapore. Vishesh Chandiok, national managing partner, Grant Thornton India, said, Indian business owners are most confident about their economy amongst peers from 32 countries for the fourth year running and also the most optimistic globally about growth of their business turnover. To stay ahead of competition, they also need to travel a lot.