"Polychronic time" is basically a form of time management that focuses on tasks completed rather than time taken - so in America you would have a job interview at lets say 10:15 AM and you better be there PROMPTLY at that time or even better fifteen minutes early, but in India the norm is more to have an interview scheduled for "Monday" and you show up when you can (within reason, obviously it sets a bad impression to show up ten minutes before everyone goes home). Monochronic time tends to do one thing at a time according to a rigid schedule, polychronic time tends to have a bunch of tasks running simultaneously, hence the name.

Someone who knows more about it than me might write about how monochronic time is an outgrowth of western capitalism since it seems to be the case that euros are monochronic and everyone else is polychronic, but it also might predate capitalism and just be a big coincidence idk.