The individual, who has acquired foreign nationality, his Indian nationality gets terminated automatically u/s 9 of the citizenship Act of 1955. So he does not have to Renounce his citizenship. However, Surrender of Indian passport is mandatory for them. In case of acquiring surrender certificate, there will be no effect on the Indian nationality of the minor children, as long as one of the parents of the children is continued to be Indian national.
 Indian Citizenship Act does not provide dual citizenship. As per the Passport Act, it is mandatory for all Indian passport holders to surrender their last Indian passport to the Embassy/Consulate immediately after acquisition of foreign nationality. It is an offence under the Citizenship Act and the Passports Act for foreign nationals to hold Indian passports. Once Indian passport is surrendered, The Embassy of India, The Hague will cancel and return it to the Passport holder along with Renunciation/Surrender certificate.
Foreign nationals of Indian Origin who have already acquired citizenship of any other country are not eligible to renounce their Indian citizenship. However, the Indian applicant, who wants to Renounce their Indian citizenship U/S 8 of Citizenship Act 1955 may do so but the Indian Citizenship of his/her minor children will be ceased automatically. May refer following details that flashes on MHA portal for renunciation :
“Indian citizens desiring to renounce the citizenship of India may please note that if any person (either FATHER OR MOTHER) ceases to be a citizen of India under sub - section (1) of Section 8 of the Citizenship Act, 1955, every minor child of that person shall cease to be a citizen of India under sub – section (2) of Section 8 of the Citizenship Act, 1955. However, such child may, within one year after attaining full age, make a declaration in the prescribed form and manner that he/she wishes to resume Indian Citizenship.”

How to apply Surrender  Certificate (for Indian origin who acquired foreign nationality)

i)  Fill up the form online https://portal3.passportindia.gov.in/Online/index.html. (visit check list for Surrender)
ii)Take a printout of the online filled in application form. The form should be duly signed with photographs and necessary documents (please visit check list)
iii) Book an appointment (link)
iv) Book prepaid airway bill with POST/Courier service in the Netherlands for receiving processed documents. This should be submitted along with an A4 size self-addressed envelope
v)  Submit application for Surrender application alongwith necessary documents and prepaid A4 size self-addressed envelope at Embassy of India in The Hague (Buitenrustweg 2, 2517KD, The Hague.
Note: Applicants may apply for E-visa fo travel to India in emergency situations during Surrender of Indian Passport/OCI process which may be prolonged due to various clearances from the competent authorities. (flashing message with icon)

How to apply ‘Renunciation Certificate’ (only for Indian nationals)

1. Apply online on the Ministry of Home Affairs (Foreigners Division) website https://indiancitizenshiponline.nic.in/
The applicant has to click on “Declaration of Renunciation of Citizenship under Section 8 of the Act Made by a Citizen of India who is also a Citizen or National of another country”
Instructions and details regarding the application can be seen in the website link given below;
https://indiancitizenshiponline.nic.in/Renounce
2. Applicants have a choice to pay applicable Fees at MHA website or pay offline at Embassy. Please note, for both choices applicants still need to pay Mandatory ICWF=2€.

If payment done at MHA website:

Payment proof corresponding to the MHA application reference number MUST be provided along with the application form.
If application is found erroneous after review by Embassy of India then no change is possible on that application, new application form with corrected details and new payment proof corresponding to the new application reference number
is required.

Hence, applicants are advised to fill up application carefully as there cannot be any refund possible from the Embassy of India for any payment(s) done on MHA website.
If Applicant chooses to pay offline / Unable to pay online at MHA website:
applicant needs to pay the applicable Embassy Fees.

Fees

Fee: €80.00 (payable by debit card (PIN). Cash is accepted as an exception if the exact amount is tendered.).

Processing Time

i) Minimum 6-10 working days from date of receipt of application at the Embassy for surrender certificate on PSP portal
ii) For Indian nationals 60 to 90 days on MHA portal application.

Delivery

Processed document will be dispatched via the prepaid courier provided by the application. Counter collection at the Embassy will not be entertained.