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<!--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/ScripCode">500470</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-01</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500470</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-01</xbrli:startDate><xbrli:endDate>2026-10-01</xbrli:endDate></xbrli:period></xbrli:context><in-capmkt:ScripCode contextRef="OneI">500470</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">Tata Steel Limited</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">TATASTEEL</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE081A01020</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Update</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="OneI">2026-10-01</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="OneD">17:32:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfInitialAnnouncement contextRef="OneI">2024-07-31</in-capmkt:DateOfInitialAnnouncement><in-capmkt:DateOfLatestAnnouncement contextRef="OneI">2026-10-01</in-capmkt:DateOfLatestAnnouncement><in-capmkt:DateOfReport contextRef="OneI">2026-10-01</in-capmkt:DateOfReport><in-capmkt:UpdateForTheEvent contextRef="OneD">Other Restructuring</in-capmkt:UpdateForTheEvent><in-capmkt:BriefDetailsOfInitialAnnouncement contextRef="OneI">Pronouncement of Order by the Hon’ble National Company Law Tribunal, Mumbai Bench, approving and sanctioning the Scheme of Amalgamation amongst Tata Steel Limited and Rujuvalika Investments Limited and their respective shareholders</in-capmkt:BriefDetailsOfInitialAnnouncement><in-capmkt:ReasonForUpdate contextRef="OneD">Others</in-capmkt:ReasonForUpdate><in-capmkt:OtherUpdates contextRef="OneI">Pronouncement of Order by the Hon’ble National Company Law Tribunal, Mumbai Bench, approving and sanctioning the Scheme of Amalgamation amongst Tata Steel Limited and Rujuvalika Investments Limited and their respective shareholders</in-capmkt:OtherUpdates><in-capmkt:AnyOtherBriefSignificantInformationForAnnouncementUpdate contextRef="OneI">NA</in-capmkt:AnyOtherBriefSignificantInformationForAnnouncementUpdate><in-capmkt:RemarksForWebsiteDisseminationForAnnouncementUpdate contextRef="OneI">NA</in-capmkt:RemarksForWebsiteDisseminationForAnnouncementUpdate></xbrli:xbrl>
