Sao Paulo, June 21 -- Brazilian President Luiz Inacio Lula da Silva has called on the world's richest nations to invest more heavily in the Global South, arguing that sustainable global economic growth depends on creating new consumers and opportunities in developing regions rather than concentrating wealth within advanced economies.

Speaking at a press conference in Geneva following his participation in the G7 Summit in France, Lula said countries in Latin America, Africa, India and China represent the next major consumer markets and should be at the centre of future investment strategies.

According to Lula, economic expansion cannot remain limited to developed nations. He stressed that creating jobs, increasing wages and attracting in...