Chennai: Tamil Nadu is slipping in converting investment proposals into tangible investments, with the latest data showing that it lags behind many states, including late bloomers such as Madhya Pradesh and Rajasthan.Though Rs 61,550 crore ($9.3 billion) was proposed to be invested in the state between 2013 and 2015, actual investments were a meagre Rs 5,293 crore, the worst among 10 large states, DIPP (Department of Industrial Policy and Promotion) data showed. In fact, actual investments into TN came at a measly 501 crore (see table) in 2015, also the lowest among these large states.TN had said it attracted investment proposals worth Rs 2.42 lakh crore at the end of the two-day Global Investors Meet in Chennai last September. While investment proposals in Karnataka and Andhra Pradesh were slightly lower than TN during 2013-15, the neighbouring states were way ahead in actual investments committed.Actual investment made in AP in the period was Rs 12,367 crore, while in Karnataka it was 21,000 crore. MP and Rajasthan, which not long ago were part of the ‘BIMARU' states or under-performing states, have raced ahead of TN in attracting new investments and in converting them into projects.MP attracted investment proposals of Rs 1,13,775 crore during the three year period while actual investments were Rs 21,421 crore, showed data from DIPP, which comes under the Union ministry of commerce and industry. Rajasthan got investment proposals worth Rs 50,857 crore and managed Rs 8,635 crore in actual investments.Observers attribute the poor showing to the sluggish demand, especially in the automobile sector which is the mainstay of investments in TN, lack of diversity and restive labour in Sriperumbudur, the hub for major investments."The auto sector, which was attracting huge investments, is close to saturation point now. The labour in Sriperumbudur has become quite restless and it is a concern for capital (flows)," said Raman Mahadevan, who focuses on economic history. "Investments in TN are not as diversified as that of Gujarat or other regions," he said.Even UP and West Bengal, considered laggards in industrial development, have managed higher actual investments than TN during the three year period, DIPP data showed. The data is based on the state-wise status of industrial entrepreneurs' memorandum (IEM) intentions and implementation. IEM is being filed by non-SME category industries that also provide updates on the commencement of commercial production.Proposed investments and actual implementation typically come with a lag effect — lasting anywhere between a year and two years. Sometimes, actual investments in a state are higher than those proposed for the year as entrepreneurs make good on earlier commitments.But the continuous poor show by TN in getting actual investments indicates that projects are not coming through. In the 2013-15 period, Gujarat topped the list of states with actual investments worth Rs 62,423 crore followed by Maharashtra with Rs 55,144 crore.