<?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">544780</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-28</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_AtTheTimeOfInstitutingScheme"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544780</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-28</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:StageOfOptionsToPurchaseSecuritiesAsPerSubPara10OfParaBAxis">in-capmkt:AtTheTimeOfInstitutingSchemeMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">VAML</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">VEDANTA ALUMINIUM METAL LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">544780</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE1CDF01017</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Options to purchase securities ESOPS (Sub-para 10-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="MainI">2026-10-28</in-capmkt:DateOfBoardMeeting><in-capmkt:StartTimeOfTheMeeting contextRef="MainI">14:10:00</in-capmkt:StartTimeOfTheMeeting><in-capmkt:EndTimeOfTheMeeting contextRef="MainI">15:12:00</in-capmkt:EndTimeOfTheMeeting><in-capmkt:RemarksForWebsiteDissemination contextRef="MainI">This disclosure is being filed pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations, as amended from time to time. Please note that this is to inform that the Nomination and Remuneration Committee (“NRC”) of Vedanta Aluminium Metal Limited (the “Company”), at its meeting held on October 28, 2026 has, inter alia approved the Performance based stock options to eligible employees of the Company, including Key Managerial Personnel and Senior Management under the VAML ESOP 2026.</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-10-28</in-capmkt:DateOfReport><in-capmkt:StageOfDisclosureOfOptionsToPurchaseSecurities contextRef="I_AtTheTimeOfInstitutingScheme">At the time of instituting the scheme</in-capmkt:StageOfDisclosureOfOptionsToPurchaseSecurities><in-capmkt:BriefDetailsOfOptionsGranted contextRef="I_AtTheTimeOfInstitutingScheme">Grant of 49,65,124 stock options (The options shall vest on completion of the performance period subject to achievement of performance conditions and includes the allotment assumed for new joiners)</in-capmkt:BriefDetailsOfOptionsGranted><in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021 contextRef="I_AtTheTimeOfInstitutingScheme">true</in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021><in-capmkt:DetailsOfSharesCoveredByOptions contextRef="I_AtTheTimeOfInstitutingScheme">49,65,124 equity shares (each option is convertible into 1 equity share of face value ₹ 1 each)</in-capmkt:DetailsOfSharesCoveredByOptions><in-capmkt:PricingFormulaForOptions contextRef="I_AtTheTimeOfInstitutingScheme">₹ 1 (Par Value)</in-capmkt:PricingFormulaForOptions><in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised contextRef="I_AtTheTimeOfInstitutingScheme">8 months from the date of vesting</in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised><in-capmkt:BriefDetailsOfSignificantTermsOfOptions contextRef="I_AtTheTimeOfInstitutingScheme">Options are vested 3 years from the date of grant based on a combination of business and individual performance over a sustained period, after approval of NRC of the Company</in-capmkt:BriefDetailsOfSignificantTermsOfOptions><in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions contextRef="I_AtTheTimeOfInstitutingScheme">Not applicable at this stage</in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions><in-capmkt:RemarksForWebsiteDisseminationForOptionsToPurchaseSecuritiesUnderSEBISBEBSchemeAsPerSubPara10OfParaB contextRef="MainI">Please note that the Nomination and Remuneration Committee of the Company has approved the grant of Stock Options. However, there is no specific dropdown for selecting "Grants" under "Stage of Disclosure" column. Hence, the option of "at the time of instituting the Scheme" has been selected under "Stage of Disclosure" column for populating the details of grants approved by the Committee.</in-capmkt:RemarksForWebsiteDisseminationForOptionsToPurchaseSecuritiesUnderSEBISBEBSchemeAsPerSubPara10OfParaB></xbrli:xbrl>
