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Indian SMEs may face more closures in '09-official

MUMBAI, Dec 23 (Reuters) - More than 100,000 small and medium enterprises (SMEs) shut shop in India in 2008, hurt by falling demand and difficult credit conditions, and the figure is likely to rise in FY09, an industry official said. "As per my knowledge 114,000 SMEs were sick last year (FY08), this year it may increase to 200,000," said Chandrakant Salunkhe, president, Small and Medium Business Development Chamber of India.