On Independence day, as you stand in front of the Tata statue in IISc, one is thankful for what IISc has provided - academic freedom.
There is a lot of discussion of tenure and how many non-faculty (and some faculty) view it. In USA, there are very few "deadwood" professors in major research universities. This is because there is a fairly rigorous review system even for tenured professors. The salary of an active high flying professor could be nearly twice or even fourfold that a less active professor. This is in addition to the summer salary, where a faculty would make nearly 20-30% more by bringing in funding. Therefore, while tenure in an US university assures a lifetime job, constant evaluation makes sure that there are significant differences between professors. When I was a graduate student, I used to see many professors (all tenured) on Sundays, holidays (even on independence day :-) because they loved what they did for research. For them, tenure meant that they need not submit a list of publications with the h-index to get their contract renewed. Tenure in such places are also essential because one can work on long-term problems.
In India, one does not have such problems. There is job security right from day one and there are no salary differentials at any level or between levels. This gives you the ultimate academic freedom.