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<!--REG30PARAB V1.0 (01-06-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Para_B_Of_Part_A_Of_Schedule_III/2026-04-30/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="http://www.sebi.gov.in/xbrl/2026-04-30/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-2026-04-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543245</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-09</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ArrangementsForStrategicOrTechnicalOrManufacturingOrMarketingTieUp"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543245</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-09</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIIIAxis">in-capmkt:ArrangementsForStrategicOrTechnicalOrManufacturingOrMarketingTieUpMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">GLAND</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">GLAND PHARMA LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">543245</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE068V01023</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Arrangement/Adoption of new line/Closure of operations (Sub-para 2-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="I_ArrangementsForStrategicOrTechnicalOrManufacturingOrMarketingTieUp">Arrangements for strategic, technical, manufacturing, or marketing tie up</in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-08-09</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">01:20:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-08-09</in-capmkt:DateOfReport><in-capmkt:TypeOfArrangement contextRef="MainI">Agreement</in-capmkt:TypeOfArrangement><in-capmkt:NameOfEntitiesWithWhomAgreementOrJointVentureIsSigned contextRef="MainI">Global Pharmaceutical Company [Name cannot be disclosed due to confidentiality obligations]</in-capmkt:NameOfEntitiesWithWhomAgreementOrJointVentureIsSigned><in-capmkt:AreaOfAgreementOrJointVenture contextRef="MainI">A Strategic Manufacturing and Supply Agreement (MSA) for the Technology Transfer, Manufacturing and Supply of a portfolio of sterile injectable products for global markets. The product portfolio comprises a diversified basket of oncology and non-oncology products in vial, Lyo, Ampoules and pre-filled syringe (PFS) presentations, covering both complex and conventional injectable formulations. 

Under the agreement, Gland Pharma will leverage its integrated capabilities across development, technology transfer, manufacturing, quality and regulatory support to provide a comprehensive "one-stop" solution to its partner.</in-capmkt:AreaOfAgreementOrJointVenture><in-capmkt:WhetherArrangementIsDomesticOrInternational contextRef="MainI">International</in-capmkt:WhetherArrangementIsDomesticOrInternational><in-capmkt:ShareExchangeRatioOrJointVentureRatio contextRef="MainI">Not Applicable</in-capmkt:ShareExchangeRatioOrJointVentureRatio><in-capmkt:ScopeOfBusinessOperationOfAgreementOrJointVenture contextRef="MainI">Full-service CDMO model encompassing technology transfer, process development, scale-up, validation, commercial manufacturing, and long-term supply of sterile injectable products.</in-capmkt:ScopeOfBusinessOperationOfAgreementOrJointVenture><in-capmkt:DetailsOfConsiderationPaidOrReceivedInAgreementOrJointVenture contextRef="MainI">The agreement is expected to provide strong long-term business visibility, with revenue generation anticipated from calendar year 2029. The current agreement covers 55 SKUs to be manufactured across three sites, with scope of adding more products soon. Once all products are commercialized, the annualized revenue potential is expected to be approximately USD 90–100 million.</in-capmkt:DetailsOfConsiderationPaidOrReceivedInAgreementOrJointVenture><in-capmkt:SignificantTermsAndConditionsOfAgreementOrJointVenture contextRef="MainI">Full-service CDMO model encompassing technology transfer, process development, scale-up, validation, commercial manufacturing, and long-term supply of sterile injectable products.</in-capmkt:SignificantTermsAndConditionsOfAgreementOrJointVenture><in-capmkt:WhetherTheAcquisitionWouldFallWithinRelatedPartyTransactions contextRef="MainI">false</in-capmkt:WhetherTheAcquisitionWouldFallWithinRelatedPartyTransactions><in-capmkt:SizeOfEntityInArrangement contextRef="MainI">Cannot be disclosed due to confidentiality obligations</in-capmkt:SizeOfEntityInArrangement><in-capmkt:RationaleAndExpectedBenefitOfArrangement contextRef="MainI">The agreement is expected to provide strong long-term business visibility, with revenue generation anticipated from calendar year 2029. The current agreement covers 55 SKUs to be manufactured across three sites, with scope of adding more products soon. Once all products are commercialized, the annualized revenue potential is expected to be approximately USD 90–100 million.</in-capmkt:RationaleAndExpectedBenefitOfArrangement></xbrli:xbrl>
