Yes, with the Tata Punch Facelift, which is launching on January 13, the sub-compact SUV will finally get a stronger turbo petrol engine option, which has been lacking in the car so far. 

As in the Tata Nexon, this will be mated to a 6-speed manual gearbox, which means the two cars will have identical powertrains. However, it is likely that, for the same price, you will get a lower-spec Nexon, compared to the Punch. 

So, it comes down to your budget and your preference - if you like more features and don't mind a smaller vehicle, you should get the Punch. However, the Nexon is far more spacious - especially in the back seat and boot - and it's more comfortable too. So, if you value that and don't mind skipping a few features, it would be a worthy upgrade to your Tiago diesel.