Mumbai: Even as questions are being raised on Narendra Modi’s new model of development, India has seen a 15 per cent jump in the number of high networth households in last one year, a BCG report said.According to the report—Global Wealth 2015: Winning the Growth Game—India has the fourth highest number of ultra high networth households (UHNW) in the world. India currently has about 982 UHNW households. "The US remained the country with the largest number of UHNW house­holds at 5,201, followed by China (1,037), the UK (1,019), India (928), and Germany (679)," the report said.According to the report private wealth in the country showed healthy market gains driven by investments in Indian equities. Indian equities rose by about 23 per cent in the last one year. The report states that the number of high networth households would grow at an even faster rate till 2019 at about 21.5 per cent.“Potentially disruptive forces are everywhere,” said Brent Beardsley, a BCG senior partner and a co-author of the report. “The tightening regulatory climate, a more complex investing environment, highly demanding clients, technological evolution, and other trends are straining traditional models. As the pace and magnitude of change intensifies, wealth managers need to think more strategically.”According to the report, global private financial wealth grew by nearly 12 per cent in 2014 to reach a total of $164 trillion. Almost three-quarters (73 per cent, or $13 trillion) of private wealth growth was generated by the market performance of existing assets, with the balance (27 per cent, or $5 trillion) generated by newly created wealth. North America, with $51 trillion in private wealth, remained the world’s wealthiest region in 2014.“Of course, most wealth managers are still grappling with traditional challenges such as how to attract new assets, generate new revenues, and manage costs,” said Daniel Kessler, a BCG partner and a co-author of the report. “Newer challenges include raising digital capabilities and coping with potentially disruptive new business models. Their priorities for investing in themselves have to be clear now.”