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<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2022-04-30/in-capmkt" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Changes_In_Management/2022-04-30/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="https://www.sebi.gov.in/xbrl/2022-04-30/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.w3.org/1999/xlink">
<link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2022-04-30.xsd"/>
<xbrli:context id="ChangeInManagement001D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">STCINDIA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-06-06</xbrli:startDate><xbrli:endDate>2025-06-06</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ChangeInManagementAxis"><in-capmkt:ChangeInManagementDomain>ChangeInManagementDomain1</in-capmkt:ChangeInManagementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context>
<xbrli:context id="ChangeInManagement001I"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">STCINDIA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-06-06</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ChangeInManagementAxis"><in-capmkt:ChangeInManagementDomain>ChangeInManagementDomain1</in-capmkt:ChangeInManagementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context>
<xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><xbrli:unit id="shares"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit><xbrli:unit id="INRPerShare"><xbrli:divide><xbrli:unitNumerator><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unitNumerator><xbrli:unitDenominator><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unitDenominator></xbrli:divide></xbrli:unit>
<in-capmkt:NSESymbol contextRef="OneI">STCINDIA</in-capmkt:NSESymbol>
<in-capmkt:NameOfTheCompany contextRef="OneI">THE STATE TRADING CORPORATION OF INDIA LIMITED</in-capmkt:NameOfTheCompany>
<in-capmkt:ReasonOfChange contextRef="ChangeInManagement001D">Appointment</in-capmkt:ReasonOfChange>
<in-capmkt:Designation contextRef="ChangeInManagement001D">Executive director</in-capmkt:Designation>
<in-capmkt:NameOfThePersonOrAuditorOrAuditFirmOrRTA contextRef="ChangeInManagement001D">Anoopa Sankarankutty Nair</in-capmkt:NameOfThePersonOrAuditorOrAuditFirmOrRTA>
<in-capmkt:EffectiveDateOfAppointmentOrResignationOrRemovalOrDisqualificationOrCessationOrVacationOfOfficeDueToStatutoryAuthorityOrderOrAdditionalChargeOrChangeInDesignation contextRef="ChangeInManagement001I">2025-06-05</in-capmkt:EffectiveDateOfAppointmentOrResignationOrRemovalOrDisqualificationOrCessationOrVacationOfOfficeDueToStatutoryAuthorityOrderOrAdditionalChargeOrChangeInDesignation>
<in-capmkt:BriefProfile contextRef="ChangeInManagement001D">Ms. Anoopa Sankarankutty Nair, aged about 42 years is a civil servant of the Indian Economic Service of 2011 Batch. She is presently working as Director, Department of Commerce, Ministry of Commerce and Industry. She is Post Graduate in Economics and also having M. Phil in Applied Economics. She has wide professional experience spanning over 13 years in Department of Economic Affairs, Ministry of Finance.</in-capmkt:BriefProfile>
<in-capmkt:DisclosureOfRelationshipsBetweenDirectorsInCaseOfAppointmentOfDirector contextRef="ChangeInManagement001D">Ms. Anoopa Sankarankutty Nair is not related to any Director on the Board of the Company on the date of her appointment in STC Limited.</in-capmkt:DisclosureOfRelationshipsBetweenDirectorsInCaseOfAppointmentOfDirector>
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