<?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">506197</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-29</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_AtTheTimeOfInstitutingScheme"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">506197</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-29</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">BLISSGVS</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">BLISS GVS PHARMA LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">506197</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE416D01022</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">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-10-29</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">16:00:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-10-29</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">2,95,000 (Two Lakh Ninety-Five Thousand) Stock Options were granted under Bliss GVS Pharma Limited – Employee Stock Options Plan 2019 by the Nomination and Remuneration Committee.</in-capmkt:BriefDetailsOfOptionsGranted><in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021 contextRef="I_AtTheTimeOfInstitutingScheme">true</in-capmkt:WhetherTheSchemeIsInTermsOfSEBISBEBRegulations2021><in-capmkt:DetailsOfSharesCoveredByOptions contextRef="I_AtTheTimeOfInstitutingScheme">2,95,000 (Two Lakh Ninety-Five Thousand) equity shares of Re. 1/- each (Each stock option is convertible into the equivalent number of shares of the face value of Re. 1/- each).</in-capmkt:DetailsOfSharesCoveredByOptions><in-capmkt:PricingFormulaForOptions contextRef="I_AtTheTimeOfInstitutingScheme">Exercise Price of Rs. 43/- per option/per share based upon the BSE Limited Last Closing Market price dated October 28, 2026, after deducting 93.42% discount and as determined by the Members of the Nomination and Remuneration Committee to bring uniformity in the exercise price of earlier options granted by the Company.</in-capmkt:PricingFormulaForOptions><in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised contextRef="I_AtTheTimeOfInstitutingScheme">The vested options shall be exercisable
within a period of 6 months from the date
of vesting of such options.</in-capmkt:DetailsOfTimeWithinWhichOptionMayBeExercised><in-capmkt:BriefDetailsOfSignificantTermsOfOptions contextRef="I_AtTheTimeOfInstitutingScheme">i) The Options granted would Vest in to the Eligible Employee in 4 (four) instalments in the following manner: 

a) 25% of the total number of Options granted after 12 months, from the date of Grant of Options. 

b) 25% of the total number of Options granted after 24 months, from the date of Grant of Options. 

c) 25% of the total number of Options granted after 36 months, from the date of Grant of Options.

d) 25% of the total number of Options granted after 48 months, from the date of Grant of Options

e) There shall be a minimum period of one year between the grant of options and vesting of options. 
 
f) The maximum exercise period for Exercise of an Option would be six months from the date of its Vesting.  

g) The Equity Shares arising out of Vested Options under the scheme, shall be subject to lock-in for a period of 6 (six) months from the date of allotment of Equity Shares.</in-capmkt:BriefDetailsOfSignificantTermsOfOptions><in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions contextRef="I_AtTheTimeOfInstitutingScheme">Not Applicable</in-capmkt:DilutedEarningsPerSharePursuantToIssueOfEquitySharesOnExerciseOfOptions><in-capmkt:RemarksForWebsiteDisseminationForOptionsToPurchaseSecuritiesUnderSEBISBEBSchemeAsPerSubPara10OfParaB contextRef="MainI">The ‘Stage of Disclosure’ tab in the XBRL provides only three options: (a) at the time of instituting the scheme, (b) vesting of options, and (c) exercise of options. Since the disclosure relates to a grant of ESOPs under the Bliss GVS Pharma Limited – Employee Stock Options Plan 2019, and no specific option is available for the grant stage, ‘at the time of instituting the scheme’ has been selected to meet the technical requirements of the XBRL document.</in-capmkt:RemarksForWebsiteDisseminationForOptionsToPurchaseSecuritiesUnderSEBISBEBSchemeAsPerSubPara10OfParaB></xbrli:xbrl>
