My college has good IT placements in it. However, I don't know the case with core Ece jobs.
And also, I heard that IT pay you more when compared to core jobs. Is it true?
well, there are core ece jobs, but they don't really arrange mas walkins like IT, best way to approach that path would be to make a list of such available companies, find your connections in those companies and drop ur cv via them or mail them or meet the receptionist and ask them that u came to drop a cv.
it would be your luck to get a call, so, try to make ur cv look attractive, list up some projects that could be related to company's business - may be hobby/ college / display projects - arduino stuff, audio video projects, that you fully understand and did hands on.
u may not get calls from big companies, many people start with smaller companies, some move up to big companies, with fat paychecks, some don't. it's always less opportunities in electronics, once a product is designed, its mostly done, small companies don't get much reason to keep u paid unless they want to make new modifications or products. its not true for big companies though.
IT is different, indian IT is mainly support based, it means u will constantly need to support customers through whatever their needs and bill them accordingly - i.e. more opportunities.
And are there any good core ece jobs in India where we can have good self development?
be it programming or electronics, if you can take up it as hobby u will come to search projects ideas in internet, eventually will be downloading custom libs from github or somewhere else, and if u study them u will eventually come to know how professional coding is different from college level coding, etc.
if interested in electronics, see some eevblog / julien illet projects, lots of people take up electronics as hobbies, and post 2010, it has become hobbyists paradise these days, thanks to small chinese companies, lots of tools became available for experimentation and crafting, at very affordable prices.
electronics and comm jobs are different. if u get to join reliance/ tata docomo / airtel / vodafoene / noika /bsnl comms like companies, then the comms theoretical knowledge to crack the interview is what all u will need, because in the job will be wielding hammers, screw drivers and joining wires from Tx to Rx and Rx to Tx, but they may be good paying jobs as well.
)
), then go for moderate knowledge on unix and other stuff. 