Asked whether he was satisfied with India's performance in the tournament, Oltmans said: "I am never satisfied. It's good to be in the semifinals which means that we are close to no.4 but we can be more close.
"But we failed to cross the semifinals in the last three major tournaments and that is what we have to cope with. The boys deserve to make that step," he said.
Inconsistency continued to haunt India as the hosts conceded an early goal to lose 0-1 to Belgium in the second semifinal at the Sardar Vallabh Bhai Patel Stadium.
India conceded a soft goal as early as in the fifth minute when Cedric Charlier scored from a field strike for Belgium.
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The Indians were slow to get off the blocks as they hardly troubled the Belgian defence in the first two quarters. But the hosts came out with more purpose after the change of ends to create numerous scoring opportunities what the forwardline failed to finish off the moves.
"The first two quarters were for Belgium but I think the next two quarters we played well and belonged to us. We did everything to score a goal. We created chances but sometimes luck is not in your side and that's part of the game," he said.
"We were close but just not good enough at the moment."
Oltmans, however, rued the fact that his wards failed to score enough goals in the tournament.
Interestingly, it was one of the rare semifinal of an international tournament where the teams failed to secure a single penalty corner.
In search of a penalty corner in the dying moments of the game, India asked for a referral but the video umpire thought otherwise, a decision which did not go down well with Oltmans.