No value in industry except if one like to opt for any acadenic job, criteria for which is fixed at Minimum PhD (what is the basis of keeping such restrictions, even policy makers/formulators do not bother to explore that with the passage of time!). Please note that many successful leaders here do not have formal management degree forget about PhD.
* Selection to Professor: Eligibility: PG degree/ME/MTech/MBA + 10 years experience in teaching/research/industry etc. or PHD degree with some experience. There is hardly any basis in finding out the Parameters of Equivalence between PG + Exp. with PhD.
* Selection to PhD programme- Differs equally in eligibility, degree requirement, duration, off-campus/on-campus requirement, contact hours/residential needs etc.etc. leaving far behind the quality of the research jobs. No uniformity.
So what we can expect from such a system! Nothing. But let us be in this turbulent flow (of present higher education) as per available choice and chance of getting it as another degree "Dr."
All the best !!