Is experience as a Lecturer in Europe/UK considered relevant in Indian inst. (IIT/IIIT/NIT) for Assistant Professor positions in CS? Is a Lecturer in the UK or Europe considered pretty much the same as an Assistant Professor in the US, considering the fact that this Lecturer position involves teaching, research and service?

Do Indian institutions (IIT/IIIT/NIT) consider the experience as a Lecturer in Europe or the UK equivalent to the US for Assistant Professor positions in CS?
In the UK, a Lecturer position is approximately equivalent to an Assistant Professor position in the US, with the exception that in the UK it is usually a permanent position, while an assistant professor in the US needs to get a tenure before becoming a permanent faculty. (On the other hand, the UK system doesn't have tenure at all.) 

The 2nd paragraph of the OP is unclear.