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The only big infra upgrade will be the bullet train connecting it to Mumbai in 2hrs (and in future Delhi in 3 hrs). Once that connectivity develops you can have access to the good life in both cities.
The only problem is that the city is very conservative. Non-veg is not available easily, night clubs are not so frequent, alcohol isn't legal. It would be very hard to attract young talent because of these reasons
Billions spent on construction contractors doesn't make any city Tier 1. Start with abolishing prohibition.
If the Modi govt goes all out and spends billions to make it similar to a first-world city, then will that result in top companies and professionals working there?