Cheaper health-care goods and services will be created in the developing world, then sold in the U.S. That’s a big idea that Jeff Immelt, the CEO of GE, has been pushing lately. He explained it at great length in a recent Harvard Business Review piece that used the phrase “reverse innovation” to refer to creating new products in developing countries, then exporting those innovations to the developed world. (Here’s an example of how the company did that with portable ultrasound machines ; here’s a WSJ article on how wider use of ultrasound in India has been fraught.) Immelt touched on the idea again on Friday, when he was in India talking up the company’s health-care

business there, the New York Times notes . He also said that all of GE’s existing Indian health-care businesses would be folded into an existing partnership with Wipro , the big Indian tech company, the WSJ reports . GE’s Indian health-care business includes selling ultrasound machines, heart scanners and the like. Despite the talk of reverse innovation, only a quarter of the health-care the products the company sells in India these days are made in India; Immelt hopes to up that to half or three-quarters in the next decade, the WSJ says. Photo: Associated Press

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GE CEO: Innovation in India Can Lower Health Costs in U.S.