<?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/2022-12-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2022-12-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2022-12-31/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-2022-12-31.xsd" xlink:type="simple"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ISIN">543994</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-01-23</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ISIN">543994</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-01-23</xbrli:startDate><xbrli:endDate>2026-01-23</xbrli:endDate></xbrli:period></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NameOfTheCompany contextRef="OneI">JSW INFRASTRUCTURE LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">JSWINFRA</in-capmkt:NSESymbol><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:EventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Incorporation</in-capmkt:EventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:DateOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneI">2026-01-23</in-capmkt:DateOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:DateOfReport contextRef="OneI">2026-01-23</in-capmkt:DateOfReport><in-capmkt:NameOfHoldingCompany contextRef="OneI">JSW Port Logistics Private Limited</in-capmkt:NameOfHoldingCompany><in-capmkt:RelationshipOfHoldingCompanyWithTheListedEntity contextRef="OneD">Subsidiary</in-capmkt:RelationshipOfHoldingCompanyWithTheListedEntity><in-capmkt:NameOfTheIncorporatedEntity contextRef="OneI">Khurja Rail Terminal Private Limited</in-capmkt:NameOfTheIncorporatedEntity><in-capmkt:IndustryToWhichTheEntityBeingIncorporatedBelongs contextRef="OneI">Infrastructure &amp; Logistics</in-capmkt:IndustryToWhichTheEntityBeingIncorporatedBelongs><in-capmkt:BriefBackgroundAboutTheEntityIncorporatedInTermsOfProductsOrLineOfBusiness contextRef="OneI">The Resolution Plan for NCR Rail Infrastructure Limited (“NCR Rail”) submitted by the Company has been approved by National Company Law Tribunal, Mumbai, Bench II. In order to acquire NCR Rail, the Company through JSW Port Logistics Private Limited has incorporated Khurja Rail Terminal Private Limited</in-capmkt:BriefBackgroundAboutTheEntityIncorporatedInTermsOfProductsOrLineOfBusiness><in-capmkt:CostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed contextRef="OneD">Number of Shares</in-capmkt:CostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed><in-capmkt:PercentageOfShareholdingOrControl contextRef="OneI" decimals="INF" unitRef="pure">1</in-capmkt:PercentageOfShareholdingOrControl><in-capmkt:DateOfIncorporation contextRef="OneI">2026-01-23</in-capmkt:DateOfIncorporation><in-capmkt:CountryInWhichTheEntityIsIncorporated contextRef="OneI">India</in-capmkt:CountryInWhichTheEntityIsIncorporated><in-capmkt:AnyOtherBriefSignificantInformationForIncorporationEvent contextRef="OneI">Khurja Rail Terminal Private Limited (‘KRTPL’) has been formed as a wholly owned subsidiary of JSW Port Logistics Private Limited (‘JSWPLPL’), wholly owned subsidiary of the JSW Infrastructure Limited (‘the Company’). Consequently, KRTPL has become a step down wholly owned subsidiary of the Company.</in-capmkt:AnyOtherBriefSignificantInformationForIncorporationEvent></xbrli:xbrl>