EXPLORING FINANCIAL COOPERATION AND FACILITATION IN THE GLOBAL SOUTH: A SOUTH-SOUTH COLLABORATION BETWEEN INDIA AND BRAZIL
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Abstract
This paper explores the financial cooperation and facilitation in the Global South, specifically focusing on the South-South collaboration between India and Brazil. It examines the various aspects of financial collaboration and facilitation between these two countries, including the exchange of experiences, sharing of best practices, and technical expertise. The paper also highlights the importance of South-South cooperative transfer on education in the Global South, particularly in relation to education policy and the United Nations Sustainable Development Goals. The paper discusses India's active engagement in South-South cooperation through initiatives like ‘Neighbours First’ and ‘India-Africa Partnership’. The paper focuses on the need for more efficient cross-border payment and document handling processes for the export of Indian goods to Brazil. It proposes a digital solution utilizing Supernets and engaging trade and banking stakeholders as permissioned actors on a Polygon Supernet to achieve faster settlement and negotiation periods while maintaining regulatory compliance. The paper also emphasizes the need for effective mechanisms to monitor the effectiveness of South-South cooperation. It acknowledges the accountability-related disputes that have emerged in Brazilian South-South cooperation and explores how these disputes have been negotiated among stakeholders and the public.
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