From everything I've heard so far, there is a serious problem. There's no way that running such a modest load should take that long.
What versions are you using (DB2 & CMOD)? Can you give us a sample of the generic index file contents? How many 'records' or 'documents' are inside this text file that you're loading, or is it one document per file?
In the times I've seen painfully slow performance like this in the past, it's been a software bug, or one of the components (DB2, TSM, or OS) is severely constrained in cpu, memory, or disk.
-JD.