My daughter flew from Oz to Amsterdam on a one-way ticket and was asked some pointed questions by airline staff at each stage of the trip about her return plans, but never refused boarding. Not sure if it was because of the one-way ticket, her age (she was 15), or both, but you might have to be prepared for a few close inspections.
On the other hand, I've done the same journey (to Frankfurt rather than Amsterdam) with no questions at all. However, I did have an onward flight to Budapest already booked. If you're worried, perhaps you could sacrifice €50 for a flight out of the Schengen area? Whether you show up for the flight or not is up to you - as long as none of the airline staff (from India to Amsterdam) are put in a position where they have the break the rules/risk their job for you, things might go more smoothly.