<?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">GUJRAFFIA</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">GUJRAFFIA</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">GUJRAFFIA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-09-30</xbrli:instant></xbrli:period></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:ScripCode contextRef="MainI">523836</in-capmkt:ScripCode><in-capmkt:Symbol contextRef="MainI">GUJRAFFIA</in-capmkt:Symbol><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE610B01024</in-capmkt:ISIN><in-capmkt:NameOfTheCompany contextRef="MainI">Gujarat Raffia Industries 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">Equity</in-capmkt:TypeOfCompany><in-capmkt:WhetherPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsApplicableToTheEntity contextRef="MainD">false</in-capmkt:WhetherPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsApplicableToTheEntity><in-capmkt:ReasonForPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsNotApplicableToTheEntity contextRef="MainD">In terms of the requirement of Regulation 27(2) of the SEBI (Listing Obligation and Disclosure Requirements) 2015, the listed entity shall submit quarterly report on Corporate Governance within 21 days from the close of quarter. However, in terms of Regulation 15(2) of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 the requirement of filing of Corporate Governance Report as prescribed under Regulation 27 of said regulations for the quarter ended 30th September, 2025 is not applicable to our Company.
Relevant text of the provisions of Regulation 15(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is reproduced herein below for your kind reference:

Regulation 15(2) (a) The compliance with the corporate governance provisions as specified in regulations 17, [17A,] 18, 19, 20, 21, 22, 23, 24, [24A], 25, 26, 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 Regulation 15(2) (a) The listed entity having paid up equity share capital not exceeding rupees ten crore and net worth not exceeding rupees twenty five crore, as on the last day of the previous financial year i.e. 2024-25.

Considering the relaxation provided under Regulation 15(2) (a), the provision related to filing of Corporate Governance Report for the quarter ended 30th September, 2025 is not applicable on our Company.
Further, it is certified that whenever this Regulation becomes applicable on the Company at a later date, we will comply with the requirements of the same within prescribed time.
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