Analogous to 2D layered transition metal dichalcogenides, the TlSe family of 1D chain materials with Zintl-type structure exhibits exotic phenomena under high-pressure. In the present work, we have systematically investigated the high-pressure behavior of TlInTe 2 using Raman spectroscopy, synchrotron X-ray diffraction, and transport measurements, in combination with crystal structure prediction (CSP) based on the evolutionary approach and first principles calculations. We found that TlInTe$_2$ undergoes a pressure driven semiconductor to semimetal transition at 4 GPa, followed by a superconducting transition at 5.7 GPa (with Tc = 3.8 K) induced by a Lifshitz transition. The Lifshitz transition is initiated by the appearance of new electron pockets on the Fermi surface, which evolve with pressure and connect to the adjacent electron pockets forming an umbrella shaped Fermi surface at the top and bottom of the Brillouin zone. An unusual giant phonon softening (Ag mode) concomitant with a V-shaped Tc behavior appears at 10-12 GPa as a result of the interaction of optical phonons with the conduction electrons, resulting in Fano line shaped asymmetry in Ag mode. A prominent Tc anomaly concurrent with the Ag mode softening at 19-20 GPa is correlated to the semimetal to metal transition. The CSP calculations reveal that these transitions are not accompanied by any structural phase transitions up to the maximum pressure achieved, 33.5 GPa. Our findings on TlInTe$_2$ open up a new platform to study a plethora of unexplored high pressure novel phenomena in TlSe family induced by Lifshitz transition (electronic driven), phonon softening and electron-phonon coupling.