Being in a Tier 3 Engineering college in CS Branch, on what should I focus to get a good placement offer (above 5LPA) at the end of my B.Tech?

Why not aim higher? 10 lakhs per annum? 15? 20? Here is how you do it:

• Increase your visibility: create a proper LinkedIn, Github and AngelList profile. Recruiters are active on LinkedIn and AngelList. Make sure that you have a great profile that helps you get visibility. Do not post/share unnecessary stuff that dilutes your branding.
• Build a great resume: just having visibility as such is useless if you are unable to get shortlisted for interviews. If some recruiter contacts you, you should make sure that you reap that opportunity and that your resume is shortlisted. How do you do that? Learn new skills and build great projects around those skills. For instance, you may want to learn Web Development. For this, you can choose to pick up say Django, which is a great Python-based Web framework. Now, don’t just learn Django. Build a great project around it which you can showcase on your resume. This drastically increases your chances of success. Also, gone are the days of old technologies like ____ (I won’t name, else people may get offended). Focus on cutting-edge technologies that are trending in the market. Machine Learning, Artificial Intelligence, Blockchain, etc.
• Prepare well for interviews: all your efforts around increasing your visibility and building a great resume would go waste if you are unable to do well in the interviews. It is good to know Machine Learning. However, interviewers don’t just evaluate your current level of knowledge. Most of them are also interested in your thinking and problem-solving abilities and also your ability to pick up new things. As a result, it is quite a well-established fact that most Software companies conduct an interview around Data Structures, Algorithms and fundamentals of Computer Science (OS, Databases, etc). Therefore, it is extremely important that you focus on these skills as much as you spend time learning Machine Learning or any other skill.
• Utilize your network: try reaching out to your friends, seniors and colleagues who are working in a company where you want to work. Ask them for help in getting you a referral. For this, you need to win their confidence that you are worth referring. That’s where point 1 comes into the picture - increase your visibility.