Having lived near glaciers for 30 years I can tell you this is the dumbest piece of realestate to fight over in the world.
The smartest thing would be for india pull their troops off and let their airforce take care of makeing it any more un-livable than it already is.
Airpower has more limitations than uses at that altitude.Delivery of PGMs have been found to be difficult & most helicopters have had a rough time up there.Besides it's proximity to China makes the use of offensive airpower inadvisable as the last thing you want is Pakistan to be aided by it's best friend.
Siachen is a place of strategic importance for India especially because it over looks the only road which connects some parts of Kashmir to India. If Pakistan take it they have huge strategic advantage
However it is a hell hole and infact troops have to be rotated out of Siachen with two - three weeks because of the damage to the soldiers health. If a soldier stays there long enough he will not be fit again to return to active duty.
More soldiers in both sides have been killed due to weather than due to enemy fire. Also from what I remember the air is too thin to have the airforce deal with it. Choppers cannot reach the spot where Indians are entrenched, you have a drop off point and then from there it is good ole legs to do it.