WASHINGTON — Gov. Bobby Jindal of Louisiana, a onetime rising Republican star whose popularity has plummeted in his own state, dropped out of the presidential race on Tuesday, conceding that he was unable to find any traction.

“I’ve come to the realization this is not my time,” he said on Fox News.

Mr. Jindal had unveiled a series of policy proposals, ferociously attacked Donald J. Trump and spent considerable time courting conservatives in Iowa, which begins the presidential nominating process. None of it worked. He raised little money, did not rise high enough in the polls to appear on the prime-time debate stage and was overshadowed by unconventional candidates such as Mr. Trump and Ben Carson.

“We spent a lot of time developing detailed policy papers, and given this crazy, unpredictable election season, clearly there just wasn’t a lot of interest in those policy papers,” Mr. Jindal said in an interview on Fox News Tuesday night.

His more immediate challenge was most likely money: He had just $261,000 on hand as of the start of October.