New Delhi: Foreign direct investment (FDI) inflow in 2002-03 was estimated at $ 2.57 billion compared with $ 3.9 billion the previous year, Commerce Minister Arun Jaitley informed Lok Sabha on July 25.

The FDI inflow for 1999-2000 was $ 2.15 billion and for the next year $ 2.34 billion, he said during Question Hour.

Replying to questions, he said no target for FDI was fixed and the FDI inflows in the world had declined from $ 1,492 billion in 2000 to $ 735 billion in 2001.

The FDI inflows are estimated to have further declined to $ 534 billion in 2002, Jaitley said quoting the World Investment Report.

In reply to a related question, Finance Minister Jaswant Singh replied in the negative when asked whether government proposed to hike the limit of FDI in the insurance sector.

PTI