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<!--NOS V1.0 (10-04-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2024-05-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Notice_Of_Shareholders_Meeting/2024-05-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Notice_Of_Shareholders_Meeting/2024-05-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" 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-2024-05-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500820</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-07</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="D_DetailofResolution1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500820</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-07</xbrli:startDate><xbrli:endDate>2026-10-07</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ResolutionOrAgendaAxis"><in-capmkt:ResolutionOrAgendaDomain>ResolutionOrAgendaDomain1</in-capmkt:ResolutionOrAgendaDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_DetailofResolution1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500820</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-07</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ResolutionOrAgendaAxis"><in-capmkt:ResolutionOrAgendaDomain>ResolutionOrAgendaDomain1</in-capmkt:ResolutionOrAgendaDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NameOfTheCompany contextRef="MainI">ASIAN PAINTS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="MainI">ASIANPAINT</in-capmkt:NSESymbol><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-10-07</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainI">20:14:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:RemarksForWebsiteDissemination contextRef="MainI">This is to inform you that the Board of Directors of the Company at its meeting held on Monday, 7th September 2026, based on the recommendations of the Nomination and Remuneration Committee, had unanimously approved the appointment of Mr. Leo Puri (DIN: 01764813) as an Additional and Independent Director of the Company, not liable to retire by rotation for a term of five (5) consecutive years commencing from 7th September 2026 to 6th September 2031. The Board had also appointed Mr. Leo Puri as the Chairman of the Board with effect from 23rd January 2027, subject to the approval of the shareholders for his appointment as an Independent Director. &lt;BR&gt; 
 &lt;BR&gt; 
The approval of the shareholders for the aforesaid appointment is sought by way of Postal Ballot.</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-10-07</in-capmkt:DateOfReport><in-capmkt:EventForNoticeOfShareholdersMeeting contextRef="MainI">Postal Ballot</in-capmkt:EventForNoticeOfShareholdersMeeting><in-capmkt:ModeOfShareholdersMeeting contextRef="MainI">Postal Ballot</in-capmkt:ModeOfShareholdersMeeting><in-capmkt:NumberOfShareholdersMeeting contextRef="MainI">-</in-capmkt:NumberOfShareholdersMeeting><in-capmkt:DayOfShareholdersMeeting contextRef="MainI">Thursday</in-capmkt:DayOfShareholdersMeeting><in-capmkt:DateOfShareholdersMeeting contextRef="MainI">2026-10-08</in-capmkt:DateOfShareholdersMeeting><in-capmkt:ShareholdersMeetingCommencementTime contextRef="MainI">09:00:00</in-capmkt:ShareholdersMeetingCommencementTime><in-capmkt:PlaceOfShareholdersMeeting contextRef="MainI">-</in-capmkt:PlaceOfShareholdersMeeting><in-capmkt:EndDateOfPostalBallotVoting contextRef="MainI">2026-11-06</in-capmkt:EndDateOfPostalBallotVoting><in-capmkt:NumberOfAgendaOrBusinessToBeTransacted contextRef="MainI" unitRef="pure" decimals="0">1</in-capmkt:NumberOfAgendaOrBusinessToBeTransacted><in-capmkt:RemarksForWebsiteDisseminationForShareholdersMeeting contextRef="MainI">This is to inform you that the Board of Directors of the Company at its meeting held on Monday, 7th September 2026, based on the recommendations of the Nomination and Remuneration Committee, had unanimously approved the appointment of Mr. Leo Puri (DIN: 01764813) as an Additional and Independent Director of the Company, not liable to retire by rotation for a term of five (5) consecutive years commencing from 7th September 2026 to 6th September 2031. The Board had also appointed Mr. Leo Puri as the Chairman of the Board with effect from 23rd January 2027, subject to the approval of the shareholders for his appointment as an Independent Director. &lt;BR&gt; 
 &lt;BR&gt; 
The approval of the shareholders for the aforesaid appointment is sought by way of Postal Ballot.</in-capmkt:RemarksForWebsiteDisseminationForShareholdersMeeting><in-capmkt:TypeOfResolution contextRef="I_DetailofResolution1">Special Resolution</in-capmkt:TypeOfResolution><in-capmkt:CategoryOfResolution contextRef="I_DetailofResolution1">Appointment/Re-appointment/Removal/Ratification/Retirement/Remuneration</in-capmkt:CategoryOfResolution><in-capmkt:SubCategoryOfResolution contextRef="I_DetailofResolution1">Appointment</in-capmkt:SubCategoryOfResolution><in-capmkt:BriefDetailsOfResolution contextRef="D_DetailofResolution1">Appointment of Mr. Leo Puri (DIN: 01764813) as an Independent Director of the Company, not liable to retire by rotation, for a term of five (5) consecutive years commencing from 7th September 2026 to 6th September 2031.</in-capmkt:BriefDetailsOfResolution><in-capmkt:DesignationOfDesignatedPerson contextRef="I_DetailofResolution1">Non-Executive - Independent Director</in-capmkt:DesignationOfDesignatedPerson><in-capmkt:NameOfDesignatedPerson contextRef="D_DetailofResolution1">Leo Puri</in-capmkt:NameOfDesignatedPerson><in-capmkt:DirectorIdentificationNumberOfDirector contextRef="D_DetailofResolution1">01764813</in-capmkt:DirectorIdentificationNumberOfDirector><in-capmkt:DateOfStartOfTenure contextRef="D_DetailofResolution1">2026-09-07</in-capmkt:DateOfStartOfTenure><in-capmkt:DateOfEndOfTenure contextRef="D_DetailofResolution1">2031-09-06</in-capmkt:DateOfEndOfTenure><in-capmkt:NumberOfTimesAppointed contextRef="D_DetailofResolution1" unitRef="pure" decimals="0">1</in-capmkt:NumberOfTimesAppointed></xbrli:xbrl>