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An LLM from NLU otherwise is considered a wasteful expenditure due to the sheer lack of academic culture in most of these law universities. While there are hardly any other Universities in India which can be good option for LLM for a career in academia.
However, you can by your hardwork turn around this perception, by having a wealth of experience as research assistant & teaching assistant to a well known Professor, by having good publications in well identified and authentic journals, by good grades and by networking.
Academia generally does not pay good in the initial years. So do consider that.
If you are focussing at law firms by doing an LLM, then don't go for LLM at all.
Only those who are not stable in their career choose LLM and then PhD.
Do not pursue an LL.M. in India. The only direction for an Indian LL.M. is UGC NET+Ph.D.+connections, maybe then you'll have an edge in being a assistant professor. Otherwise not worth it, investing 1-2 years in preparation of CAT would yield better opportunities.