Hello Gayanjith Premalal further thoughts: your device will emit only in certain conditions => i.e. rarely. If you combine it with bluetooth like communication protocole (i.e. low emission protocole), I don't think this will be a problem.
Another option is to put the pendant on baby ankle. I think this is something people do a lot in India?

Hello Gayanjith quick reaction before I think more about it: maybe you could use low radiation emission communication protocole like Bluetooth and probably many more?

Gayanjith Premalal  Regarding the business model, maybe you can check out and get some inspiration from this project http://sunna-moon.com it's in french but I guess you can get the essence. It's a combinaison of lighting system and mobile for communities in Africa who don't have access to electricity.