<?xml version="1.0" encoding="UTF-8" standalone="no"?><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2023-01-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2023-01-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2023-01-31/in-capmkt-roles" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink"><link:schemaRef xlink:href="in-capmkt-ent-2023-01-31.xsd" xlink:type="simple"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">HIGREEN</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-07-26</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">HIGREEN</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-07-26</xbrli:startDate><xbrli:endDate>2025-07-26</xbrli:endDate></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="OneI">HIGREEN</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="OneI">HI-GREEN CARBON LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Update</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:DateOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneI">2025-06-28</in-capmkt:DateOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:DateOfInitialAnnouncement contextRef="OneI">2025-06-28</in-capmkt:DateOfInitialAnnouncement><in-capmkt:DateOfLatestAnnouncement contextRef="OneI">2025-06-28</in-capmkt:DateOfLatestAnnouncement><in-capmkt:DateOfReport contextRef="OneI">2025-07-26</in-capmkt:DateOfReport><in-capmkt:BriefDetailsOfInitialAnnouncement contextRef="OneI">Further investment in Wholly Owned Subsidiary Company - Shantol Recycling Limited.</in-capmkt:BriefDetailsOfInitialAnnouncement><in-capmkt:ReasonForUpdate contextRef="OneD">Transaction Delayed</in-capmkt:ReasonForUpdate><in-capmkt:InitialDateOfCompletion contextRef="OneI">2025-07-28</in-capmkt:InitialDateOfCompletion><in-capmkt:RevisedDate contextRef="OneI">2025-10-26</in-capmkt:RevisedDate><in-capmkt:ReasonForDelay contextRef="OneI">Due to a Delay in the installation of Capital Assets by the Wholly Owned Subsidiary company, Management of the Wholly Owned Subsidiary Company has delayed the issue of Share Capital.</in-capmkt:ReasonForDelay></xbrli:xbrl>