I too have 3 lakh+ jpmiles with me.
Anish. What you are looking at is partner flights. There's bound to be very good surcharge and taxes with partner flights so I would say count partner flight only after you have checked surcharge taxes and others
By the way here's the best bet- Delhi Amesterdam or Mumbai AMS return 85k miles directly through jet if Europe is on your cards. Costs only INR 6k in taxes.