[Algemarin]

> As an Indian national

As an Indian national, you are not eligible for this visa program.

One of the requirements is:

> you do not need a visa to enter the Schengen area

[resonance1994]

How strange. I could have sworn the Spanish and Greek ones didn't have this requirement. Then it's indeed fairly useless.

[version_five]

That's even stranger then, so it's exclusively targeting people who could effectively just come there anyway.

[Algemarin]

Correct. It is very explicitly targeting tourists who want to stay for more than 90 days, up to 180 days. Basically this is a convoluted method of extending tourism to rich tourists for a longer (specifically, a double) period of time to have them pump more of their money into the country. That's all.