<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--ICGIG--><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2024-12-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/IntegratedGovernance/2024-12-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/IntegratedGovernance/2024-12-31/in-capmkt-roles" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2024-12-31/in-capmkt-types" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink"><link:schemaRef xlink:href="in-capmkt-ent-2024-12-31.xsd" xlink:type="simple"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-06-30</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-06-30</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="PY_I"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-03-31</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_AcquisitionShares1"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:UnlistedCompanyAxis"><in-capmkt:UnlistedCompanyDomain>UnlistedCompanyDomain1</in-capmkt:UnlistedCompanyDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_AcquisitionShares1"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:UnlistedCompanyAxis"><in-capmkt:UnlistedCompanyDomain>UnlistedCompanyDomain1</in-capmkt:UnlistedCompanyDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_AcquisitionShares_PY1"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-03-31</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:UnlistedCompanyAxis"><in-capmkt:UnlistedCompanyDomain>UnlistedCompanyDomain1</in-capmkt:UnlistedCompanyDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_AcquisitionShares2"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:UnlistedCompanyAxis"><in-capmkt:UnlistedCompanyDomain>UnlistedCompanyDomain2</in-capmkt:UnlistedCompanyDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_AcquisitionShares2"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:UnlistedCompanyAxis"><in-capmkt:UnlistedCompanyDomain>UnlistedCompanyDomain2</in-capmkt:UnlistedCompanyDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_AcquisitionShares_PY2"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-03-31</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:UnlistedCompanyAxis"><in-capmkt:UnlistedCompanyDomain>UnlistedCompanyDomain2</in-capmkt:UnlistedCompanyDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes1"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain1</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes2"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/in-capmkt/Symbol">TGL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-06-30</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OngoingTaxLitigationsOrDisputesAxis"><in-capmkt:OngoingTaxLitigationsOrDisputesDomain>OngoingTaxLitigationsOrDisputesDomain2</in-capmkt:OngoingTaxLitigationsOrDisputesDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:ScripCode contextRef="MainI">000000</in-capmkt:ScripCode><in-capmkt:Symbol contextRef="MainI">TGL</in-capmkt:Symbol><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE0K6601012</in-capmkt:ISIN><in-capmkt:NameOfTheCompany contextRef="MainI">TEERTH GOPICON LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:DateOfStartOfFinancialYear contextRef="MainI">2025-04-01</in-capmkt:DateOfStartOfFinancialYear><in-capmkt:DateOfEndOfFinancialYear contextRef="MainI">2026-03-31</in-capmkt:DateOfEndOfFinancialYear><in-capmkt:ReportingQuarter contextRef="MainI">Quarterly</in-capmkt:ReportingQuarter><in-capmkt:DateOfEndOfReportingPeriod contextRef="MainI">2025-06-30</in-capmkt:DateOfEndOfReportingPeriod><in-capmkt:TypeOfCompany contextRef="MainD">SME</in-capmkt:TypeOfCompany><in-capmkt:WhetherPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsApplicableToTheEntity contextRef="MainD">false</in-capmkt:WhetherPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsApplicableToTheEntity><in-capmkt:ReasonForPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsNotApplicableToTheEntity contextRef="MainD">Not applicable; pursuant to the regulation 15(2) of Chapter IV of SEBI (LODR) Regulations, 2015, corporate governance provisions as specified in regulations 17, 17A, 18, 19, 20, 21,22, 23, 24, 24A, 25, 26, 26A, 27 and clauses (b) to (i) and (t) of sub-regulation (2) of regulation 46 and para C , D and E of Schedule V shall not apply in respect of the listed entity, which has listed its specified securities on the SME Exchange.</in-capmkt:ReasonForPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsNotApplicableToTheEntity><in-capmkt:WhetherPartBOfAnnexureIOfTheSEBICircularDated31December2024RelatedToInvestorGrievanceRedressalReportIsApplicableToTheEntity contextRef="MainD">true</in-capmkt:WhetherPartBOfAnnexureIOfTheSEBICircularDated31December2024RelatedToInvestorGrievanceRedressalReportIsApplicableToTheEntity><in-capmkt:WhetherPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsApplicableToTheEntity contextRef="MainD">true</in-capmkt:WhetherPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsApplicableToTheEntity><in-capmkt:WhetherPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsApplicableToTheEntity contextRef="MainD">false</in-capmkt:WhetherPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsApplicableToTheEntity><in-capmkt:ReasonForPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsNotApplicableToTheEntity contextRef="MainD">Not Applicable since during the quarter no penalty or fine imposed on the Company.</in-capmkt:ReasonForPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsNotApplicableToTheEntity><in-capmkt:WhetherPartEOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfUpdatesToOngoingTaxLitigationsOrDisputesIsApplicableToTheEntity contextRef="MainD">true</in-capmkt:WhetherPartEOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfUpdatesToOngoingTaxLitigationsOrDisputesIsApplicableToTheEntity><in-capmkt:IsSCORESIDAvailable contextRef="MainI">true</in-capmkt:IsSCORESIDAvailable><in-capmkt:SCORESRegistrationID contextRef="MainI">comt00593</in-capmkt:SCORESRegistrationID><in-capmkt:TypeOfSubmission contextRef="MainI">Original</in-capmkt:TypeOfSubmission><in-capmkt:NoOfInvestorComplaints contextRef="PY_I" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaints><in-capmkt:NoOfInvestorComplaintsReceivedDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaintsReceivedDuringThePeriod><in-capmkt:NoOfInvestorComplaintsDisposedOffDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaintsDisposedOffDuringThePeriod><in-capmkt:NoOfInvestorComplaints contextRef="MainI" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaints><in-capmkt:NoOfInvestorComplaintsDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaintsDuringThePeriod><in-capmkt:NameOfTheUnlistedCompanyInWhichSharesOrVotingRightsHaveBeenAcquired contextRef="I_AcquisitionShares1">TEERTH RE 4 PRIVATE LIMITED</in-capmkt:NameOfTheUnlistedCompanyInWhichSharesOrVotingRightsHaveBeenAcquired><in-capmkt:DateOfAcquisition contextRef="I_AcquisitionShares1">2025-04-28</in-capmkt:DateOfAcquisition><in-capmkt:PercentageOfAggregateHoldingOfSharesOrVotingRights contextRef="I_AcquisitionShares_PY1" decimals="INF" unitRef="pure">0</in-capmkt:PercentageOfAggregateHoldingOfSharesOrVotingRights><in-capmkt:PercentageOfSharesOrVotingRightsAcquiredDuringTheQuarter contextRef="D_AcquisitionShares1" decimals="INF" unitRef="pure">0.48</in-capmkt:PercentageOfSharesOrVotingRightsAcquiredDuringTheQuarter><in-capmkt:PercentageOfAggregateHoldingOfSharesOrVotingRights contextRef="I_AcquisitionShares1" decimals="INF" unitRef="pure">0.48</in-capmkt:PercentageOfAggregateHoldingOfSharesOrVotingRights><in-capmkt:NameOfTheUnlistedCompanyInWhichSharesOrVotingRightsHaveBeenAcquired contextRef="I_AcquisitionShares2">TEERTH RE 3 PRIVATE LIMITED</in-capmkt:NameOfTheUnlistedCompanyInWhichSharesOrVotingRightsHaveBeenAcquired><in-capmkt:DateOfAcquisition contextRef="I_AcquisitionShares2">2025-05-20</in-capmkt:DateOfAcquisition><in-capmkt:PercentageOfAggregateHoldingOfSharesOrVotingRights contextRef="I_AcquisitionShares_PY2" decimals="INF" unitRef="pure">0</in-capmkt:PercentageOfAggregateHoldingOfSharesOrVotingRights><in-capmkt:PercentageOfSharesOrVotingRightsAcquiredDuringTheQuarter contextRef="D_AcquisitionShares2" decimals="INF" unitRef="pure">0.51</in-capmkt:PercentageOfSharesOrVotingRightsAcquiredDuringTheQuarter><in-capmkt:PercentageOfAggregateHoldingOfSharesOrVotingRights contextRef="I_AcquisitionShares2" decimals="INF" unitRef="pure">0.51</in-capmkt:PercentageOfAggregateHoldingOfSharesOrVotingRights><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes1">Deputy Commissioner of State Tax, Indore, M.P.-21 passed Order and raised Demand of Rs.1.46 Cr including Tax, Interest and Penalty.</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes1">2023-05-16</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes1">Appeal against the said Demand order before the Appellate Authority filed on June 15, 2023</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes1">Appeal is pending before the Appellate Authority</in-capmkt:CurrentStatusOfTheLitigationOrDispute><in-capmkt:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes2">Additional Commissioner, CGST,Ahmedabad South,Ahmedabad,Gujarat passed Order for Demand of Tax Rs. 57.42 Lakhs and Penalty of Rs. 57.42 Lakhs and Interest as per Provisions of CGST Act 2017. Equal Amount of Penalty Rs. 57.42 Lakhs also levied on Mr. Maheshbhai M Kumbhani in capacity of Director.</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes2">2024-08-22</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes2">Appeal against the said Demand order before the Appellate Authority filed on Nov 22, 2024</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes2">Appeal is pending before the Appellate Authority</in-capmkt:CurrentStatusOfTheLitigationOrDispute></xbrli:xbrl>