While I may have questions about methodology and scope of research, I do think this is very useful work. In my role, where I have to make decisions about foreign investment in Indian cities, such reports are an interesting starting point. In fact, workplace ethics is very relevant, though I would have liked to see that broadened into Work Ethic - beyond making personal calls on office phones and into actually doing the job and taking the responsibility.
Having worked in India, other countries and in the UK, I have often pondered over whether the Protestant Work Ethic, as theorized by Max Weber, has the real positive influence on the advancement of Anglo-Saxon nations [ok, and Germany!].
While I am aware of that it is more than usual for an UK worker to call in sick on Mondays, and have seen many Indian professionals conduct themselves with a high level of integrity [my lessons in Ethics were started by my supervisor in NIIT, a rather upright and hugely successful manager who went on to become a Senior VP rising through the ranks], I do know that we have to make significant improvements how we conduct ourselves at work. I am not talking about the narrow bounds of whether we use an office phone or turn in late - I think this is about feeling towards your work and commitment towards it. In the Western economies, the objectives are quite clearly set - it is about money and everyone is on the same page - but in India, there is fusion of East and West, and Work is about identity, money and emotional backbone. I do think the Indians are a bit confused about work: It is good that someone has started thinking about it.