1) The document discusses strategies for making engineering students placement ready. It outlines four approaches - conducting faculty development programs on projects, promoting industry collaboration through problem-solving initiatives, establishing research-based master's programs, and developing specific skills in students. 2) A key strategy is to involve students from the first year in long-term projects with industry mentors and publishing papers to improve skills. Industry is encouraged to provide problems and funding while students gain experience. 3) A proposed "Innovate" portal would facilitate collaboration between industry and academics on practical problems. Industry involvement could reduce training costs through co-developed resources.