Final year plays an important role to get you some real time experience before you enter the corporate world. At the same time even it brings better job for you considering the quality of work you have done during the project work. Here are the couple of suggestions for your final year project in Electrical Engineering:
1. Do an analysis of your interest in Electrical Engineering, It really brings passion. E.g. whether it is Power Electronics, Power Systems, Machines, Control Engineering, Energy or So.
2. Browse through IEEE sites for relevant papers of your interest and chose one paper for implementation.
3. You can approach Electrical companies for a project based on your interest as well. This will give you real time experience.
Coming to the emerging trend in Electrical, here are few trends we can focus on:
1. Look at the black out in north India. Power Engineering/ System is a definite target for Electrical engineers. It involves generation, scheduling, optimization, transmission, distribution and so on. Each one topic mentioned has its horizontal & vertical to work on.
2. Magnetic levitation for Super speed trains are new trend to concentrate.
3. Wireless transmission of electricity, this is being in R&D and implementable phase for wireless chargers.
4. Electrical Vehicles/ Hybrid vehicles is another interesting fields.
We have more trends in market. Do ask me if you have any particular question.
Note : Refer the url for just an overview.