Wash the basmati rice with clean water to remove all the starch and then soak them in water for 15- 30 mins.
Add vegan butter or oil to inner pot in Instant Pot and press the ‘sauté’ setting.
As the oil heats up, add cumin seeds, cloves, cardamom, and bay leaf. Saute for 30 seconds.
Now add green chilies, cinnamon stick and continue to stir for at least another 10-15 seconds.
Add the soaked and drained basmati rice along with salt and mix them well.
Add 2 ¼ cups water and give it a good stir one last time.
Close the lid of the instant pot and turn the steam release handle to “sealing” position.
Select the pressure cooking option high pressure and set the timer for 4 minutes.
When time is up, open the lid using natural release.
That’s it! Instant Pot jeera rice is ready! Serve it hot with a side of dal or Indian curries.