By Kanishk Chaudhary (2018A4TS0481P). He got thesis offers from Monash University, Politecnico di Milano and Hiroshima University.
It varies. You could simply be doing an extensive literature review or survey, or pursuing some original research work in a lab, or just making code or simulations on a computer like a normal project. However, even if you're not able to get something impactful out of it, don't worry, since a master, PhD or Post-Doc student has much more expertise in their thesis areas, so you won't be at a disadvantage. You'll have to give a presentation at the mid and end, along with a well-formatted thesis report. I have divided the topic of thesis into 2 articles, "All About Thesis" and "Getting a Thesis".
A BITSian generally does their thesis in 4-1 or 4-2. 4-1 is usually preferred since you can add it to your MS/PhD applications. The months in this would be Aug-Dec or Jan-May. Some students pursue extended thesis as well by combining their holidays unofficially. So this duration could be June-Dec or Jan-June.
You'll first have to find a co-supervisor (a BITS Prof from your branch), who'll be in charge of grading your thesis. Remember that it's a 16-unit course. You'll also have to seek a PS-TS transfer (the timeline for this is the end of the previous semester) and then send a thesis project proposal (around a month before it begins).
On-campus thesis: You complete your thesis inside the BITS campus, supervised by a Prof in your branch.
Off-campus thesis: You complete your thesis in another university or research lab, either in India or abroad. You have two supervisors - one is a Prof in the other university, with whom you majorly work; the other is a Prof in BITS, who evaluates your performance and gives you grades. Similar concept to a PS.
Corporate thesis: Similar to off-campus, but you do it in a corporate setting (mostly in their R&D teams).
You'll have to start cold mailing at least 6 months in advance. More of that is mentioned in the next article.
Before diving into how to get a thesis, first I'll try clearing some misnomers about it.
Off vs on-campus thesis vs PS-2: There's nothing more exciting about staying in a new place for months and pursuing research in high-class labs. However, not everyone is lucky enough to get one in the first place, and a funded off-campus thesis is even rarer. Is an on-campus thesis worth it? In short, yes. However, it depends on your goals. If you are aiming for an MS/PhD, an on-campus thesis would be better than a PS-2. Any research experience in your CV adds weightage, and if you get a publication out of it, then nothing better than that. Personally, a PS-2 is better if you are aiming for MiM/MEM/MBA or looking to add work experience. However, a PS-2 in a research lab is a different story. If you aim for something like Mercedes-Benz (R&D role) or IGCAR, then that could be better, but again, there is no guarantee of getting a station you desire, unless you have an exceptional CG. The problem with an on-campus thesis could be lesser lab exposure or not adding "diversity" to your profile. But even a PS-2 can have problems - what if your project is not interesting, or your manager gives clerical work instead of making you pursue original research? In comparison, a thesis gives you much more independence and control.
What if my off-campus thesis is unfunded? This is debatable. The expenses of staying in a foreign country can be too much to bear, along with the INR 2 lakh+ fees you'll have to pay to BITS. However, the experience can be too good to miss out on. If it's unfunded in India, it should still be bearable. You'll have to make your own decision here, taking in factors like the repute of the university/Prof, project interests and what work you'll be doing, your own future career goals, etc. Also, ensure that your HoD is fine with you taking an unfunded thesis. Sometimes, your thesis request may be rejected by your HoD if there is a lack of funding.
Is a thesis worth it, even if I might not have interests in research or in my own branch? The answer to this is two-fold. Firstly, if you get a corporate thesis and a friendly supervisor, there is no need to do much research. It might just end up as a normal project or internship (with a report). Also, as long as you can model your thesis topic to be somewhat related to your branch, you will be fine if there is not much research involved. For example, you could be in Mech, working on a computational project which mostly involves coding or app development or machine learning or data analysis for a field related to Mech, and this will be enough for a bachelor thesis. The only hurdle you'll have to cross is to get HoD's approval, so make sure that there is some component of your project related to your branch.
Following up to point 3, won't a PS-2 be better? Again, depends on a lot of factors. If you are not confident about getting a good PS station, then why not go for a thesis? If you feel that you'll be able to manage whatever PS-2 project or station you get, then go for PS-2. I'm just trying to keep your mind open to more options, which you can plan out and then decide on.
P.S. You can ask more questions by personally contacting me, and I'll add them here.