Development Compact is an analytical structure that provides operational guidance to India's development cooperation in the spirit of South-South Cooperation (SSC). Veering away from the extant belief that growth is a sufficient condition for development, this paper argues that development calls for support beyond flow of financial resources alone, to other complementary resources like human capital development, sharing of technology, humanitarian assistance and trade facilitation. Beginning with an elaboration of the conceptual framework, the paper looks into the empirics of India's development cooperation efforts in terms of multiple modalities that are considered necessary to facilitate development. It is argued that the spirit of SSC in general and that of "Development Compact" in particular, could capture the fundamental niceties of development economics from an operational perspective and have been practicing them well before the analytical frameworks were developed and put to practice with considerable success.