Make a paste out of the ingredients listed under biryani masala and keep it aside.
Press SAUTE on Instant Pot. Heat ghee and oil. Add Bay leaf, star anise and fry for few seconds.
Add in the sliced onions and fry till the onions are soft. No need to brown the onions.
When the onions are soft, add in the chopped tomatoes and cook till they are soft and mushy.
Next, add the ground biryani masala paste, turmeric, salt and cook for 2-3 minutes until the raw smell goes away.
Next, add chopped mixed veggies and saute for a minute.
Add in the chopped coriander leaves, mint leaves and yogurt (curd). Mix everything well and saute for 1-2 minutes.
Then add rinsed rice, water, and give a quick stir.
Close the lid securely, and turn the vent to "SEALING". Select the PRESSURE COOK/MANUAL (High Pressure) setting and set the cooking time to 5 minutes.
When the instant pot beeps, allow the pressure to release naturally for 5 minutes, then release any remaining pressure before removing the lid.
Gently fluff up with a fork or laddle. Instant Pot Pressure Cooker Vegetable Biryani is ready. Serve hot with kurma or raita or yogurt.