<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--ICGIG V1.1 (01-01-2026)--><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="https://www.sebi.gov.in/in-capmkt/Symbol">IWARE</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/Symbol">IWARE</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-12-31</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="PY_I"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/Symbol">IWARE</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-09-30</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_OngoingTaxLitigationsOrDisputes1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/Symbol">IWARE</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-12-31</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: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">IWARE</in-capmkt:Symbol><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE1AII01014</in-capmkt:ISIN><in-capmkt:NameOfTheCompany contextRef="MainI">IWARE SUPPLYCHAIN SERVICES 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">2025-12-31</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">The Company is exempt from submitting Corporate Governance Report pursuant to regulation 27 (2) (a) read with regulation 15 (2) (b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 This exemption is applicable because the Company's equity shares are listed on the SME Emerge Platform of the National Stock Exchange of India Limited. Therefore, as per the exemptions provided under regulation 15 (2) (b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company is not required to submit Corporate Governance Report for the quarter ended on 30th December, 2025.</in-capmkt:ReasonForPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsNotApplicableToTheEntity><in-capmkt:WhetherPartBOfAnnexureIOfTheSEBICircularDated31December2024RelatedToInvestorGrievanceRedressalReportIsApplicableToTheEntity contextRef="MainD">true</in-capmkt:WhetherPartBOfAnnexureIOfTheSEBICircularDated31December2024RelatedToInvestorGrievanceRedressalReportIsApplicableToTheEntity><in-capmkt:WhetherPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsApplicableToTheEntity contextRef="MainD">false</in-capmkt:WhetherPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsApplicableToTheEntity><in-capmkt:ReasonForPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity contextRef="MainD">As per Annexure I (Part C) of SEBI Circular dated December 31, 2024, the disclosure of acquisition details for shares or voting rights in unlisted companies is not applicable to the company.</in-capmkt:ReasonForPartCOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfAcquisitionOfSharesOrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity><in-capmkt:WhetherPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsApplicableToTheEntity contextRef="MainD">false</in-capmkt:WhetherPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsApplicableToTheEntity><in-capmkt:ReasonForPartDOfAnnexureIOfTheSEBICircularDated31December2024RelatedToDisclosureOfImpositionOfFineOrPenaltyIsNotApplicableToTheEntity contextRef="MainD">As per Annexure I (Part D) of SEBI Circular dated December 31, 2024, the disclosure of Imposition of Fine or Penalty is not applicable to 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">comi00604</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">1</in-capmkt:NoOfInvestorComplaintsReceivedDuringThePeriod><in-capmkt:NoOfInvestorComplaintsDisposedOffDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">1</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:NameOfTheOpposingParty contextRef="I_OngoingTaxLitigationsOrDisputes1">Excise and Taxation Department, Haryana (GST Authorities)</in-capmkt:NameOfTheOpposingParty><in-capmkt:DateOfInitiationOfTheLitigationDispute contextRef="I_OngoingTaxLitigationsOrDisputes1">2025-09-02</in-capmkt:DateOfInitiationOfTheLitigationDispute><in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure contextRef="I_OngoingTaxLitigationsOrDisputes1">Not Applicable – this is the first-time disclosure of the matter in Integrated Filing – Governance.</in-capmkt:StatusOfTheLitigationDisputeAsPerLastDisclosure><in-capmkt:CurrentStatusOfTheLitigationOrDispute contextRef="I_OngoingTaxLitigationsOrDisputes1">Iware Supplychain Services Limited has received a Show Cause Notice in Form GST DRC-01 dated 02 September 2025 from the Excise and Taxation Department, Haryana, under Section 74 of the CGST/IGST/HGST Acts, 2017, for the financial year 2019–20.

The notice alleges wrongful availment of input tax credit (ITC) in respect of inward supplies purportedly received from a non-existent supplier. The total demand proposed, including tax, interest and penalty, aggregates to approximately ₹1.17 crore.

The Company has submitted its detailed reply in Form GST DRC-06 on 18 November 2025, along with supporting documents, contesting the allegations and denying the liability. The matter is currently pending adjudication before the GST authorities.</in-capmkt:CurrentStatusOfTheLitigationOrDispute></xbrli:xbrl>