GE Healthcare, the arm of diversified global technology company General Electric Co (GE), on Friday launched its new, low cost products for Indian market.

The latest move is a part of the company's strategy to shift its focus to lower cost products. The initiative was named by the company as 'Healthymagination'.

The firm intends to spend around $6 billion on its global strategy to grow its revenues from emerging markets.

Talking to our correspondent, a company official informed that under the program, GE Healthcare will spend $3 billion on research and development, provide $2 billion of financing to drive healthcare information technology and health in rural and underserved areas. The company further plans to invest $1 billion in partnerships, content and services over the next six years.

Further, the company official revealed that under its new healthymagination initiative, GE will launch at least 100 innovations, which will lower cost, increase access and improve quality of healthcare by 15%.

GE Healthcare, which clocked revenues of about $500 million in 2008, aims to achieve a double digit growth this year.