1. Apply to startups. If you are looking to apply to the big four, make sure you do your diligence and work hard at coding contests. 2. Practice peer-teaching. VIT is a huge college. There are more people like you, and you can easily help each other by doing projects together. 3. The industry, in general, rewards freshers who have worked in large teams and projects before. 4. Make sure you get a good internship. Shouldn't be hard for you, but if you are interested, drop me a mail (Razorpay, Bangalore) 5. Go for depth first and then pick your specialization within software. For me it was Web Development and Software Security. Could be anything for you, but make sure you have tested the waters in other fields before picking one. The one benefit of College Life is that you have time to experiment and fail. You can try out projects in all these different fields, and then decide what you are really passionate about. 6. GSoC is a great option. I'd recommend trying for a experienced org over a new one. 7. Avoid freelancing, unless absolutely necessary. It rewards short term gains, over long time learning. You can make much more money cloning WordPress themes and reusing them across projects then learning a new programming language. The latter would help you much more.
I'm very interested in Software Education in India, and if would like to talk more, drop me a mail (email in profile).