Do established companies take risk on hiring college drop-outs with not so extraordinary skills, at a decent pay for job profile of a fresher? Specially in india?

From what I have read about the Indian education system, it is much about rote learning, not about actually understanding stuff, let alone how to solve problems. And it shows in practice. However, it does offer a "cover your ass" point for the hiring manager.

So the bar that you have to beat isn't really high. If you can prove that you can do real shit, e.g. with portfolio projects, that should get you ahead.

However, if you are a dropout with nothing to show, then the only competitive advantage you might offer is working for even lower wages than the rest.

Do share your resume on LinkedIn with me.

Degree doesn't matter to the company I work for. Matter of fact, I don't have one. I just have the right skills.