However, the trouble with the argument that Mumbai will eventually prevail over Delhi is that it is hard to imagine (given the evolving realities) Mumbai ever overcoming it's problems, as you appear to have assumed.
These realities are too numerous to be recounted here and are too well known to need recounting. But the one factor among these troubles that will certainly make Mumbai less and less relevant in times to come is the almost total indifference (indeed, it is acquiescence) the Mumbai commoner shows towards the mammoth and all pervading culture of corruption present in his city. This is true for the rest of the country as well, however, it is Mumbai that might first get convinced about the unsustainablity of a corrupt culture and the mutual incompatibility of true development and corruption.
The more bitter truth is that neither Delhi nor Mumbai nor any other city in India - given this trait of the commoner to wink at corruption - can sustain it's media managed and laboured image of an up and coming place in future.
The fact that Dubai has taken away from Mumbai the chance to be an international financial hub (despite it's over hyped work culture) is only one testimony for this truism.