<?xml version="1.0" encoding="UTF-8"?>
<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" 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.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">TCI</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-29</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">TCI</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-29</xbrli:startDate><xbrli:endDate>2026-09-29</xbrli:endDate></xbrli:period></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:ScripCode contextRef="OneI">532349</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">TRANSPORT CORPORATION OF INDIA LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">TCI</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE688A01022</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Acquisition of “to be incorporated companies”</in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="OneI">2026-09-29</in-capmkt:DateOfBoardMeeting><in-capmkt:EndTimeOfBoardMeeting contextRef="OneD">13:30:00</in-capmkt:EndTimeOfBoardMeeting><in-capmkt:DateOfReport contextRef="OneI">2026-09-29</in-capmkt:DateOfReport><in-capmkt:NameOfHoldingCompany contextRef="OneI">The proposed WOS, upon incorporation, will be a wholly owned subsidiary of the Company, which will be its holding company.</in-capmkt:NameOfHoldingCompany><in-capmkt:RelationshipOfHoldingCompanyWithTheListedEntity contextRef="OneD">Subsidiary</in-capmkt:RelationshipOfHoldingCompanyWithTheListedEntity><in-capmkt:NameOfTheIncorporatedEntity contextRef="OneI">As would be approved by authorities in the People's Republic of China.</in-capmkt:NameOfTheIncorporatedEntity><in-capmkt:IndustryToWhichTheEntityBeingIncorporatedBelongs contextRef="OneI">Logistics and supply chain management.</in-capmkt:IndustryToWhichTheEntityBeingIncorporatedBelongs><in-capmkt:BriefBackgroundAboutTheEntityIncorporatedInTermsOfProductsOrLineOfBusiness contextRef="OneI">The proposed WOS will be established as a Wholly Owned Foreign-Owned Enterprise (WFOE) in the form of a Limited Liability Company (LLC) in the People’s Republic of China. It is proposed to undertake logistics and supply chain related activities.

The proposed entity is intended to support the Company’s international logistics network and develop an integrated India–China–Far East logistics corridor, with an initial focus on establishing operations in one of the Free Trade Zones (FTZ) of Shanghai or Shenzhen.</in-capmkt:BriefBackgroundAboutTheEntityIncorporatedInTermsOfProductsOrLineOfBusiness><in-capmkt:WhetherAnyGovernmentalOrRegulatoryApprovalsRequiredForTheIncorporation contextRef="OneD">Yes</in-capmkt:WhetherAnyGovernmentalOrRegulatoryApprovalsRequiredForTheIncorporation><in-capmkt:ProvideBriefDetailsOfAnyGovernmentalOrRegulatoryApprovalsForTheIncorporation contextRef="OneI">The incorporation of the proposed WOS shall be undertaken in accordance with the applicable provisions of the Foreign Exchange Management Act, 1999, the Foreign Exchange Management (Overseas Investment) Rules, 2022, the Foreign Exchange Management (Overseas Investment) Regulations, 2022, Foreign Exchange Management (Overseas Investment) Directions, 2022, and other applicable laws, rules, regulations and guidelines in India, and shall be subject to such registrations, approvals, licences and permissions as may be required from the appropriate authorities in the People’s Republic of China and/or India, as applicable.</in-capmkt:ProvideBriefDetailsOfAnyGovernmentalOrRegulatoryApprovalsForTheIncorporation><in-capmkt:NatureOfConsiderationForIncorporation contextRef="OneD">Cash</in-capmkt:NatureOfConsiderationForIncorporation><in-capmkt:AmountOfCashConsiderationForIncorporation contextRef="OneD" unitRef="INR" decimals="-5">191900000</in-capmkt:AmountOfCashConsiderationForIncorporation><in-capmkt:DetailsOfConsiderationForIncorporation contextRef="OneI">Cash</in-capmkt:DetailsOfConsiderationForIncorporation><in-capmkt:CostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed contextRef="OneD">Cost/Price</in-capmkt:CostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed><in-capmkt:DetailsOfCostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed contextRef="OneI">The overall financial commitment of the Company in relation to the proposed WOS is up to USD 2 million (United States Dollars Two Million only) or its equivalent in any other freely convertible foreign currency, which may be made in one or more tranches depending upon business requirements and in accordance with applicable laws. 

Such financial commitment may comprise equity contribution, loan and/or guarantee in the form of Standby Letter of Credit (SBLC).</in-capmkt:DetailsOfCostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed><in-capmkt:PercentageOfShareholdingOrControl contextRef="OneI" unitRef="pure" decimals="INF">1</in-capmkt:PercentageOfShareholdingOrControl><in-capmkt:DateOfIncorporation contextRef="OneI">2026-09-29</in-capmkt:DateOfIncorporation><in-capmkt:CountryInWhichTheEntityIsIncorporated contextRef="OneI">People's Republic of China.</in-capmkt:CountryInWhichTheEntityIsIncorporated><in-capmkt:AnyOtherBriefSignificantInformationForIncorporationEvent contextRef="OneI">Date of Incorporation i.e 29-09-2026, is not actual date of incorporation. The date is mentioned for the purpose of statutory filling on the stock exchanges.</in-capmkt:AnyOtherBriefSignificantInformationForIncorporationEvent></xbrli:xbrl>
