<?xml version="1.0" encoding="UTF-8"?>
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2023-06-30/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Closure_Of_Trading_Window/2023-06-30/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Closure_Of_Trading_Window/2023-06-30/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-type="https://www.sebi.gov.in/xbrl/2023-06-30/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2023-06-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">532286</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-29</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NameOfTheCompany contextRef="MainI">JINDAL STEEL LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="MainI">JINDALSTEL</in-capmkt:NSESymbol><in-capmkt:ISIN contextRef="MainI">INE749A01030</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementForClosureOfTradingWindow contextRef="MainI">New</in-capmkt:TypeOfAnnouncementForClosureOfTradingWindow><in-capmkt:TypeOfEventForClosureOfTradingWindow contextRef="MainI">Closure of Trading Window</in-capmkt:TypeOfEventForClosureOfTradingWindow><in-capmkt:DateOfStartOfTradingWindowClosure contextRef="MainI">2026-07-01</in-capmkt:DateOfStartOfTradingWindowClosure><in-capmkt:BriefDetailsForTradingWindowClosureEndDate contextRef="MainI">In compliance with the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015 and the Company’s Code of Conduct for regulating, monitoring and reporting of trading by Insiders in Securities of the Company, the Trading Window for dealing in the securities of the Company for all the Designated Persons and their immediate relatives, shall remain closed with effect from Wednesday, July 1, 2026, till the expiry of 48 hours after the declaration of the Unaudited Financial Results, both on standalone and consolidated basis, for the 1st quarter ending June 30, 2026.</in-capmkt:BriefDetailsForTradingWindowClosureEndDate><in-capmkt:PurposeOfTheClosureOfTradingWindow contextRef="MainI">Unaudited Financial Results</in-capmkt:PurposeOfTheClosureOfTradingWindow><in-capmkt:DateOfReport contextRef="MainI">2026-06-29</in-capmkt:DateOfReport></xbrli:xbrl>
