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Degree is important but more important is the upskilling that you do. Indian education system still teaches you Basic HTML in the name of web development courses so that is not going to get you a good pay worthy internship or a job. Upskill to learn PHP, frameworks, bootstrap etc as an example and then you will definitely get a good internship opportunity on the basis of both your Degree and the knowledge that you have collected

Focus on presenting your skills. You must know to properly showcase you capabilities of able to do the real work only then there is hope of getting intership and the job aswell. And ofc networking, the better connections you will have the better chances for you. You must know Founders/Recruiters/Product Managers like someone who live next door to you. Just listing out skills set and apply in traditional manners seems to be not working quite well for everyone.

Placement depends on skillset. Yes top tier colleges will have advantage but only in providing more opportunities. No college teach you how to get placed because there is alot of difference between the syllabus and technologies in companies. So, self preparation is needed. I'm not saying not to try for top tier colleges but saying getting top college will not guarantee you a job.