<?xml version="1.0" encoding="UTF-8"?>
<!--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">544537</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-26</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">544537</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-26</xbrli:startDate><xbrli:endDate>2026-08-26</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="I_ExecutionOfAgreement"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544537</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-26</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIIIAxis">in-capmkt:ExecutionOfAgreementMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="I_PartiesOfTheAgreement1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544537</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-26</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:PartiesOfTheAgreementAxis"><in-capmkt:PartiesOfTheAgreementDomain>PartiesOfTheAgreementDomain1</in-capmkt:PartiesOfTheAgreementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="INRPerShare"><xbrli:divide><xbrli:unitNumerator><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unitNumerator><xbrli:unitDenominator><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unitDenominator></xbrli:divide></xbrli:unit><xbrli:unit id="shares"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">JAINREC</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">JAIN RESOURCE RECYCLING LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">544537</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE0YD401026</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Agreements (Sub-para 5-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="I_ExecutionOfAgreement">Execution of agreement</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">2026-08-26</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">10:30:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-08-26</in-capmkt:DateOfReport><in-capmkt:TypeOfExecutionOfAgreement contextRef="MainI">Others</in-capmkt:TypeOfExecutionOfAgreement><in-capmkt:DetailsOfOtherTypeOfExecutionOfAgreement contextRef="MainI">Loan Conversion Agreement</in-capmkt:DetailsOfOtherTypeOfExecutionOfAgreement><in-capmkt:DetailsOfExecutionOfAgreement contextRef="MainI">•	Conversion of the outstanding loan of AED 1,70,64,000 advanced by the Company to Jain Ikon into 11,376 equity shares of Jain Ikon of face value AED 1,500 each, credited as fully paid up. 

•	The conversion is to be effected at AED 1,500 per equity share, being the face value of the existing equity shares of Jain Ikon. No consideration is payable in cash.

•	Upon allotment of the said equity shares, the loan shall stand extinguished in full, and the Company shall have no further claim against Jain Ikon in respect of the amount converted.

•	The agreement does not confer upon any party any special right such as the right to appoint directors on the Board of Directors of the Company, any first right to subscribe to the shares of the Company, any right to restrict any change in the capital structure of the Company, or any similar right. The agreement does not impact the management or control of the Company.

•	The conversion is intended to consolidate the Company’s investment in Jain Ikon and facilitate the subsequent divestment of the Company’s entire investment in Jain Ikon. Upon completion of the conversion, the Company’s shareholding in Jain Ikon will increase from 70% to 99.74%.</in-capmkt:DetailsOfExecutionOfAgreement><in-capmkt:DateOfBoardOrCommitteeMeetingApprovingTheAgreement contextRef="MainI">2026-08-26</in-capmkt:DateOfBoardOrCommitteeMeetingApprovingTheAgreement><in-capmkt:WhetherProposedOrExecutedAgreementIsInNormalCourseOfBusiness contextRef="MainI">false</in-capmkt:WhetherProposedOrExecutedAgreementIsInNormalCourseOfBusiness><in-capmkt:ReasonForProposedOrExecutedAgreementIsNotInNormalCourseOfBusiness contextRef="MainI">The conversion is intended to consolidate the Company’s investment in Jain Ikon and facilitate the subsequent divestment of the Company’s entire investment in Jain Ikon. Upon completion of the conversion, the Company’s shareholding in Jain Ikon will increase from 70% to 99.74%.</in-capmkt:ReasonForProposedOrExecutedAgreementIsNotInNormalCourseOfBusiness><in-capmkt:NumberOfPartiesToTheAgreement contextRef="MainD" unitRef="pure" decimals="0">1</in-capmkt:NumberOfPartiesToTheAgreement><in-capmkt:NameOfPartiesOrCounterPartiesOfTheAgreement contextRef="I_PartiesOfTheAgreement1">JAIN IKON GLOBAL VENTURES FZC</in-capmkt:NameOfPartiesOrCounterPartiesOfTheAgreement><in-capmkt:NatureOfThePartiesOfTheAgreement contextRef="I_PartiesOfTheAgreement1">Party entering into the agreement</in-capmkt:NatureOfThePartiesOfTheAgreement><in-capmkt:DetailsOfShareholdingInTheEntityWithWhomTheAgreementIsExecuted contextRef="I_PartiesOfTheAgreement1">Yes</in-capmkt:DetailsOfShareholdingInTheEntityWithWhomTheAgreementIsExecuted><in-capmkt:NumberOfSharesOfPartyOfTheAgreement contextRef="I_PartiesOfTheAgreement1" unitRef="shares" decimals="INF">70</in-capmkt:NumberOfSharesOfPartyOfTheAgreement><in-capmkt:PercentageOfShareholdingOfPartyOfTheAgreement contextRef="I_PartiesOfTheAgreement1" unitRef="pure" decimals="INF">0.7</in-capmkt:PercentageOfShareholdingOfPartyOfTheAgreement><in-capmkt:WhetherThePartiesToTheAgreementAreRelatedToPromoterOrPromoterGroupOrAssociateOrHoldingOrSubsidiaryOrGroupCompaniesOrDirectorOrKMPAndItsRelativesInAnyManner contextRef="I_PartiesOfTheAgreement1">false</in-capmkt:WhetherThePartiesToTheAgreementAreRelatedToPromoterOrPromoterGroupOrAssociateOrHoldingOrSubsidiaryOrGroupCompaniesOrDirectorOrKMPAndItsRelativesInAnyManner><in-capmkt:WhetherTheAgreementWouldFallWithinRelatedPartyTransactions contextRef="MainI">true</in-capmkt:WhetherTheAgreementWouldFallWithinRelatedPartyTransactions><in-capmkt:WhetherTheAgreementIsDoneAtArmsLength contextRef="MainI">true</in-capmkt:WhetherTheAgreementIsDoneAtArmsLength><in-capmkt:PurposeOfEnteringIntoTheAgreement contextRef="MainI">To record the terms and conditions for the conversion of the outstanding loan advanced by the Company to Jain Ikon into equity shares of Jain Ikon.
The conversion is intended to consolidate the Company’s existing exposure in Jain Ikon, an entity which has ceased operations and has a negative net worth, and to align the Company’s shareholding in Jain Ikon with the quantum of funding extended by the Company. The conversion is intended to consolidate the Company’s investment in Jain Ikon and facilitate the subsequent divestment of the Company’s entire investment in Jain Ikon.</in-capmkt:PurposeOfEnteringIntoTheAgreement><in-capmkt:SizeOfAgreement contextRef="MainI">AED 1,70,64,000 (Arab Emirates Dirhams One Crore Seventy Lakhs Sixty Four Thousand only), equivalent to approximately INR 44.50 Crores, being entire outstanding loan which would be converted into 11,376 equity shares of Jain Ikon of AED 1,500 each.</in-capmkt:SizeOfAgreement><in-capmkt:SignificantTermsOfTheAgreementInBriefSpecialRightsLikeRightToAppointDirectorsOrFirstRightToShareSubscriptionInCaseOfIssuanceOfSharesOrRightToRestrictAnyChangeInCapitalStructure contextRef="MainI">•	Conversion of the outstanding loan of AED 1,70,64,000 advanced by the Company to Jain Ikon into 11,376 equity shares of Jain Ikon of face value AED 1,500 each, credited as fully paid up. 

•	The conversion is to be effected at AED 1,500 per equity share, being the face value of the existing equity shares of Jain Ikon. No consideration is payable in cash.

•	Upon allotment of the said equity shares, the loan shall stand extinguished in full, and the Company shall have no further claim against Jain Ikon in respect of the amount converted.

•	The agreement does not confer upon any party any special right such as the right to appoint directors on the Board of Directors of the Company, any first right to subscribe to the shares of the Company, any right to restrict any change in the capital structure of the Company, or any similar right. The agreement does not impact the management or control of the Company.

•	The conversion is intended to consolidate the Company’s investment in Jain Ikon and facilitate the subsequent divestment of the Company’s entire investment in Jain Ikon. Upon completion of the conversion, the Company’s shareholding in Jain Ikon will increase from 70% to 99.74%.</in-capmkt:SignificantTermsOfTheAgreementInBriefSpecialRightsLikeRightToAppointDirectorsOrFirstRightToShareSubscriptionInCaseOfIssuanceOfSharesOrRightToRestrictAnyChangeInCapitalStructure><in-capmkt:WhetherThereIsAnyIssuanceOrTransferOfSharesToTheParties contextRef="MainI">false</in-capmkt:WhetherThereIsAnyIssuanceOrTransferOfSharesToTheParties><in-capmkt:IssuePricePerShare contextRef="MainD" unitRef="INRPerShare" decimals="INF">1500</in-capmkt:IssuePricePerShare><in-capmkt:DetailsOfNomineeOnTheBoardOfDirectorsOfTheListedEntity contextRef="MainI">Not Applicable</in-capmkt:DetailsOfNomineeOnTheBoardOfDirectorsOfTheListedEntity><in-capmkt:PotentialConflictOfInterestArisingOutOfLoanAgreement contextRef="MainI">Not Applicable</in-capmkt:PotentialConflictOfInterestArisingOutOfLoanAgreement></xbrli:xbrl>
