My experience is from University of Minnesota. I am not sure about other universities, but it should be pretty similar.
There are no on-campus placements in UMN. There is a career fair once a semester where you go and meet prospective employers and give them your resume and if they are impressed, they call you and do a phone interview, which leads to an on-site interview. So, the only role that the university plays in the whole process is that your resume is at least looked at by a person, after that it is all you.
In my opinion, it is much much easier to get a job in India after B.Tech. than it is after a BS/MS/PhD in US through campus placements. People have to struggle a lot more in US to get a job, whereas in IITs (or other good colleges) you get your job offer while sitting in your own college.
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