Lucknow University steps into the foray of consultancy via 'Paramarsh', its in-house counsel
The Lucknow University will now provide consultancy services, where the varsity's in-house counsel-clinic LUCC, named Paramarsh, will set the playing field. Subjects experts from the university will be engaged to counsel both public and private sector firms against a fee via the arms of this newly launched consultancy clinic, reported sources. Within hours of the launch of the novel facility, LU bagged four clients, including one government institute and three private establishments.
Lucknow University's targetted expertise to provide solutions
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As the first client of Paramarsh, King George's Medical University (KGMU), from the Government sector has tasked the LUCC to take over the quality control department of Lucknow's pioneering medical institute. To avail its services and expertise, KGMU paid a fee of ₹500 as a token to the university, read reports. Here, the research excellence of Paramarsh will help to draw a cost-benefit analysis of a certain process.
The other three private companies that have turned to LU's consultancy clinic include two firms that belong to the legal and travel domains, while the last client is a service provider for non-banking finance services (NBFCs). All the four are liable to float a detailed proposal, highlighting prospects where the consultancy is required. Thereafter, the Paramarsh, depending on their requirements, will decide which department holds expertise in the respective area and will be assigned the consultancy responsibility.
LU to generate additional revenue
The Lucknow University holds expertise in various areas, hence, the consultancy services will be a source of additional revenue generation. This will make the varsity independent from its otherwise primary financial support; government aids and grants. Paramarsh director Ritu Narang, a faculty of the business administration department, said, "From providing legal consultancy to finding out about government schemes for an organization to testing a product like conducting a sanitiser quality test- all of this can be done in LU laboratories. The university will provide consultancy in various sectors."
The clinic will provide services to establishments of all nature, be it private and public sector organisations, government departments and agencies, NGOs, cooperative societies and financial institutions. The services will provide advisory solutions in designing implementing, measuring, analysing and reviewing policies, Ritu Narang elaborated.